New Tax Measures Cause Reactions

Minister of Economy and Finance Yiorgos Alogoskoufis recently announced new tax measures that raised the concern of the Hellenic Chamber of Hotels.

According to the chamber, the new measures demonstrate the poor financial situation of the Greek economy as well as the poor implementation of the country’s budget.

In regards to the tourism sector -which is dominated by small enterprises and is already up against the international economic crisis and major competition of markets dealing with dollars- the chamber refers to an “additional blow from the new tax measures that adversely affects its competitiveness.” The chamber also reminds of the recent “unbearable and economically unjustifiable” common real estate tax (ETAK) that the government imposed on the hotel industry.

At a recent gathering, the chairman of the Hellenic Chamber of Hotels, Gerasimos Fokas, stressed that the chamber’s main target is to overhaul the regulatory setting within which the hotel industry operates.

Mr. Fokas expressed the need for the hotel industry to be exempted from unnecessary bureaucracy and unfair financial burdens in order for the industry to concentrate on attracting tourist clientele.

In addition, the chairman mentioned the need for the industry to improve its performance and develop its drive on an international level.