[CNA] Risk of Commission asking for money back due to reduced VAT rate on housing, says Finance Minister (1)

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The readiness of the executive to consider the introduction of a transitional period and a criterion regarding the maximum cost of the reduced VAT rate for the construction of a house was conveyed to the Finance Committee of the House of Representatives by Finance Minister Constantinos Petridis, warning however that there is a risk that the European Commission may request a refund due to the violation of the relevant Directive.

The government bill submitted to comply national legislation with the VAT directive provides for a reduced VAT rate of 5% for houses with a maximum area of 140 square meters (instead of the current 200 square meters).



At the meeting, committee members again raised questions about the correspondence between the government and the European Commission, with Konstantinos Petridis criticizing the Parliament for a proposed law
(CNA)


CNA - Gregory Savva
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