VAT tax decrease both on credit and debit cards

According to reports, the finance ministry is preparing a new scenario for stimulating economic activity and collecting VAT tax from the public sector.

This will involve a reduction of 3% on card purchases, which was proposed to the government by banks about a year ago.

It will be both for credit and debit cards, which are used instead of cash for direct debit account deposits and are not burdened with interest. A prerequisite for the consumer is to have sufficient balance in a savings account.

Although the proposal was presented about a year ago, the government chose to adopt the measure of the tax card, but seeing that it did not work, they reverted to the original proposal.

If consumers choose to use a debit card, they can have the benefit of automatic VAT reduction, and the state will receive the tax in time by the banks, since it will be retained through the card.

As reported earlier by protothema.gr, relevant information refers to a reduction in VAT from 23% to 20% and from 13% to 10%, depending on the current product and service.