The demands of creditors to Greece in exchange for … – Televisa News

MEXICO CITY, Mexico, in June. 24,2015.- Greece and its international creditors are in the final stages of talks to seek reforms of Athens in exchange for financing to avoid violating her a payment to the International Monetary Fund (IMF) on Tuesday.

The following is a list of the main demands of creditors for there to be an agreement, according to a paper published in the online edition of the Wall Street Journal reported.

OBJECTIVES FISCAL

Greece should adopt a supplementary budget law for the rest of the year and design a medium-term strategy for 2016-18 to consider:

A 1 per cent of GDP surplus primary in 2015.

A 2 percent of GDP surplus in 2016

A 3 percent of GDP surplus in 2017

A 3.5 percent GDP surplus in 2018

At this point there seems to be an agreement between Athens and its creditors.

VAT reform

Greece should change its system of value added tax by 1 July, in order to generate a 1 percent of GDP over tax revenue a year.

Greece is offering to increase VAT by 0, . 38 percent of GDP in 2015 and 0.74 percent of GDP in 2016

FINANCIAL STRUCTURE

Greece should:

– Require full advance payments of corporate taxes by the end of the year

-. Raise the extraordinary solidarity rates

-. Abolish subsidies to farmers for excise duty the diesel and halving subsidies for heating fuel in the budget for 2016

-. Setting the property tax revenues to ensure 2,650 million euros in 2015 and 2016

– From July 1, cut prices of all drugs without patents and 50 percent of all generic to 32.5 percent of the price of patent

. BUDGET IN 2016

Greece should:

– Reduce military spending by 400 million euros, including cuts in troops and equipment

– Reform the income tax to cover capital taxes, investment vehicles, for agriculture and for self-employed

-. Raise the rate of corporate tax to a . 28 percent from 26 percent

– tax the TV ads

-. Launching an international tender for TV licenses and use of frequencies

PENSION REFORMS

– Fully implement the pension reforms of 2010 and 2012

– From July 1 to generate reforms savings of 0.25 to 0.5 percent of GDP in 2015 and 1 percent in 2016 on the basis of a full year:

– create strong disincentives for early retirement

– phasing out the solidarity allowance (EKAS) for all pensioners by the end of 2017. Greece wants to keep the subsidy

-. Raise the contribution to the health of pensioners on average 6 percent from 4 percent, and extend it to pensions supplements

-. approve laws by 31 October this year, which take effect in 2016, to establish a link more . strait between pension contributions and benefits

CIVIL SERVICE

– Reform the unified pay scale, to have effect from the beginning of 2016 the entire public sector

-. Legislate for rationing special salary scales for the end of 2015.

LLc