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Is there any evidence of VAT related buoyancy effects in Greece?

Author

Listed:
  • Athanasios O. Tagkalakis

    (Bank of Greece)

Abstract

This paper investigates the presence of buoyancy effects in VAT revenue. The projected improvement in economic conditions from 2014 onwards could result in cumulative gains in VAT revenue up to 0.70% of GDP in the period from 2014 to 2016. There is evidence that the intensification of VAT related audits and a likely shift in consumption patterns away from necessity goods (that are taxed at lower VAT rate) will further increase tax efficiency. The abovementioned factors can boost VAT revenue beyond what is currently expected, facilitating the achievement of future primary balance targets.

Suggested Citation

  • Athanasios O. Tagkalakis, 2014. "Is there any evidence of VAT related buoyancy effects in Greece?," Economics Bulletin, AccessEcon, vol. 34(3), pages 1762-1775.
    • Handle: RePEc:ebl:ecbull:eb-14-00443
    as

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    File URL: http://www.accessecon.com/Pubs/EB/2014/Volume34/EB-14-V34-I3-P162.pdf
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    References listed on IDEAS

    as
    1. Mr. John D Brondolo, 2009. "Collecting Taxes During an Economic Crisis: Challenges and Policy Options," IMF Staff Position Notes 2009/017, International Monetary Fund.
    2. Ms. Cemile Sancak & Jing Xing & Ricardo Velloso, 2010. "Tax Revenue Response to the Business Cycle," IMF Working Papers 2010/071, International Monetary Fund.
    3. John Brondolo, 2009. "Collecting Taxes During an Economic Crisis; Challenges and Policy Options," IMF Staff Position Notes 2009/17, International Monetary Fund.
    4. International Monetary Fund, 2014. "Jamaica: Sixth Review Under the Arrangement Under the Extended Fund Facility," IMF Staff Country Reports 2014/359, International Monetary Fund.
    5. Vincent Belinga & Ms. Dora Benedek & Ruud A. de Mooij & Mr. John Norregaard, 2014. "Tax Buoyancy in OECD Countries," IMF Working Papers 2014/110, International Monetary Fund.
    6. Mr. Tigran Poghosyan, 2011. "Assessing the Variability of Tax Elasticities in Lithuania," IMF Working Papers 2011/270, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    VAT; GDP; tax evasion; Greece.;
    All these keywords.

    JEL classification:

    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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