As Greece continues to struggle with meeting its debt obligations, it is now considering a proposal by the International Monetary Fund to consolidate its value added tax (VAT) rates to a single flat rate of 18% in order to simplify administration and improve taxpayer compliance. The flat rate would replace the current standard VAT rate of 23% and the reduced rates of 13% and 6.5%.
Any change would have to be approved by the Troika (European Commission, European Central Bank, International M…