Article 1: Combating profiteering
- Extends the temporary measure against profiteering in essential products until December 31, 2024.
- Increases the maximum fines for non-compliance.
Article 2: Extending measures against price increases
- Extends the following measures until December 31, 2024:
- The “household basket” initiative, which monitors prices of essential goods.
- The obligation for businesses to notify price increases for certain products.
- The obligation for energy providers to notify price changes.
- Extends the deadline for renewable energy producers to submit documents for grid connection until November 30, 2024.
- Extends the deadline for agricultural electricity customers to switch to the GAIA tariff until October 31, 2024.
Article 3: Permanent VAT reduction for taxi services
- Permanently reduces the VAT rate for taxi services to 13% from 30th June 2024.
Article 4: Suspension of enforcement measures against ELAS A.V.E.E.
- Extends the suspension of enforcement measures against ELAS A.V.E.E.’s movable and immovable property for an additional 102 months, until December 31, 2028.
Rationale
- The measures against profiteering are still necessary to combat inflation.
- The measures to protect consumers from price increases need to be extended as inflation remains high.
- The VAT reduction for taxi services is intended to make them more affordable for consumers and to support the taxi industry.
- The suspension of enforcement measures against ELAS A.V.E.E. is necessary to protect the company’s viability and jobs.
Additional notes
- The law amendment was submitted to the Greek Parliament on June 29, 2024.
- It is expected to be voted on in the coming weeks.
Source: taxheaven.gr
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
