The caretaker government has decided to “freeze” the introduction of the controversial 23% VAT rate on private education until the 16th of October, despite earlier statements suggesting that the measure would be fully suspended.
Earlier in the day the caretaker Alternate Minister of Finances Tryfon Alexiadis has confirmed that the controversial introduction of a 23% VAT rate in private education services (which covers private schools, tutoring etc) would be suspended within the day.
Mr. Alexiadis specifically told SKAI that the decision to abolish this VAT rate came after a cross-party request was submitted. The necessary legal actions are expected to take place within the day, so that the measure is suspended until Parliament reopens.
Regarding the controversial measure itself, the caretaker Alt. Finance Minister opined that its implementation may likely result in loss of revenue for the State, by noting that “we must tax as much as we can collect, otherwise the State loses”.