Filenews 9 June 2022 - by Eleftheria Paizanos
VAT on EAC's fuel and bills constitutes an important part of state revenues. And the higher fuel prices rise, the more the state's revenues increase.
According to the data of the Ministry of Finance sent to Parliament, in the context of the discussion of the law proposals of the opposition parties, which propose further tax reliefs for consumers, in the first quarter of the year an amount of € 91.32 million was collected from the imposition of VAT on fuel and EAC, from total VAT receipts of €671.55 million. Its amount corresponds to 13.7% of vat receipts.
Last year, during the corresponding quarter, the state revenues from the imposition of VAT on EAC's fuel and bills were €62.9 million, out of a total amount of €549.96 million. Moreover, throughout 2021, VAT receipts were €2.4 billion, of which €212.8 million came from fuel, €95.64 million from EAC, €74.38 million. from food, €11 million from restaurants and €10.97 million from medicines.
In 2020, total VAT receipts were €2.1 billion, of which €173 million related to fuel and €74.1 million the EAC The rest of the VAT revenues came from food of €65 million, from restaurant services and other food services €11.15 million, and €10.26 million from medicines. Moreover, in 2019 VAT revenues were €2.4 billion. In fact, VAT on fuel was €214.5 million. and from EAC € 80.7 million. Also, an amount of €65.18 million came from the imposition of VAT on food, € 23.71 million from restaurant and other food services and €8.25 million from medicines.
Additional revenue
Meanwhile, according to data from the Ministry of Finance, from January to 30 April, the state received €18.74 million from the imposition of VAT on excise duty on fuel. Of the total receipts, €9. 5 million came from 95-octane gasoline, €8.5 million. from diesel, €690,000 from heating oil and €40,000 from agricultural oil. Last year, VAT revenue on fuel consumption tax was €66.2 million, of which €33.53 million related to 95-octane petrol, €30.94 million to diesel, €1.64 million to heating oil and €110,000 to agricultural oil. Also, in 2020 the revenues from the imposition of VAT on the special fuel tax were €61.7 million and in 2019 it was €68.9 million.
