The abolition of the 0.6% contribution of L.128 / 75 to the loans granted by the banking institutions to the companies, is requested by the Thessaloniki Chamber of Crafts with a letter to the Ministers of Finance, Christos Staikouras and Development and Investments, Adonis Georgiadis.
According to BETH, “the abolition of this contribution is a constant and long-standing request of Greek entrepreneurship, as in addition to the already high cost of lending to Greek companies, it works to the detriment of their competitiveness and the country’s development potential.”
“As it is known, with the provisions of law 128/75, all business loans granted by banks to companies are charged at a rate of 0.60%. This charge, in essence, acts as an indirect tax, collected by banks , is transferred through the Bank of Greece to the Greek state and constitutes revenue of the state budget “states the BETH in its letter.
“The aforementioned contribution was introduced in 1975 with the ultimate goal of creating a reserve to boost (subsidize) interest rates on loans to export companies. In general, it was introduced as a measure to boost Greek exports.
Since then, although under Community law it is not permissible to export premiums to exporters in such ways, this levy has not only not been abolished but remains unchanged, charging all undertakings a total burden on the rest of all types of loans granted.
It is also a question of whether and to what extent, although the charge was imposed on the banks, it was passed on to the borrowers: since according to the letter of the law “(par. 3 of article 1 of law 128/75) the credit institutions and not the lender are charged with the aforementioned contribution.
Based on the above, we request the abolition of the contribution of 0.6% of Law 128/75, which in addition to the burden of the already high lending costs of Greek companies, operates to the detriment of their competitiveness and the development potential of our country. ” the letter concludes.
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Source From: Capital
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