ASE members call for changes in transaction taxes

The Athens Stock Exchange Members’ Association (SMEHA) on Wednesday called for the abolition of capital gains tax and urged the finance ministry to come up with a better proposal - in cooperation with the market -- closer to existing tax codes abroad.

SMEHA said the capital gains tax should be abolished as the Greek market suffered from lack of volume, a significant criterion to attract foreign investors.

The Association also recommended a reduction of a withholding tax on dividends, currently at 25 pct, to encourage investment activity in the market and noted that a transactions tax offered a comparative advantage to foreign investment firms.

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