Institutions representing Greece's creditors made some concessions to Athens in the latest list of reforms they want in order for Greece to get new financing in a last-ditch attempt to secure a deal that would avert default on Tuesday. The revised proposal, seen by Reuters, extends the deadline by which Greece would have to completely phase out a pension supplement, called EKAS, by two years to 2019, compared with the previous position of the creditors. The creditors also agreed that a Value Added Tax reform which scraps lower VAT exemptions for islands and raises VAT on restaurants and hotels could be reviewed at the end of next year "provided that equivalent additional revenues are collected through measures taken against tax evasion and to improve collectability of VAT".
 |
| READ THE ORIGINAL POST AT uk.news.yahoo.com |