Govt to Table Bill on Offsetting Debts - PM

Govt to Table Bill on Offsetting Debts - PM

The government will submit to Parliament shortly a legislative amendment on offsetting VAT debts both towards the state and between individuals, prime minister Antonis Samaras said, as quoted bythe Athens News Agency-Macedonian Press Agency.

The bill, which will become effective in the autumn, will initially affect self-employed and businessmen with annual revenues up to 500,000 euro, to later include people with revenues of more than 2 million euro, thus covering over 85% of the transactions in the market.

The bill is expected to give a strong boost to local small and medium-sized eneterprises.

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