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OECD: Greece only country that raised VAT rate in 2016

Staff Writer |
Greece was the only country that raised its standard VAT rate in 2016, the Organization for Economic Co-operation and Development (OECD) said.

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“Countries have stopped increasing standard VAT rates to raise additional revenue and the most significant area of reform in the last year has been regarding the application of VAT in the digital sector,” the Paris based think-tank said in a report entitled “Tax Policy Reforms 2017.”

The report said that many European Union countries, exempt Greece,’ undertook “the most wide-ranging” and introduced the most comprehensive tax reforms in 2016.

“With the exemption of Greece, which continued its efforts to meet the fiscal targets under its third bailout program, comprehensive tax reform packages were aimed at supporting growth, in particular through reductions in taxes on labor and corporate income.”

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