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November 17, 2019
ECONOMY

Government to retain lower VAT in 2020 for islands coping with migration flows, Mitarakis says


Deputy Labour and Social Affairs Minister Notis Mitarakis on Monday assured the board of the Chios Entrepreneurs, Merchants and Craftsmen Federation that the government will continue reduced VAT rates for the islands coping with heightened migration pressures in 2020, in light of the burden placed on them by heavy migrant flows.

According to an announcement from the minister’s office, Mitarakis agreed with the need to support island entrepreneurship and Greek products and the urgent need for state support to the islands, such as Chios, that had faced serious challenges due to the refugee-migration crisis in recent years.

“We will actively support entrepreneurship and islandness. With reductions of tax and social insurance rates, we aim at economic growth and the creation of good-quality jobs. Especially on the islands that are today buffeted by the migration crisis, we will retain the reduced VAT rates for 2020,” Mitarakis said.

He also referred to the “urgent need for quality Greek products of the primary but also the secondary sector to remain competitive and to provide incentives to today’s young people to invest in the future.”

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