Parliament opens "extraordinarily" - Meets for increased bank charges and reduction of VAT on EAC accounts

They are meeting today to discuss the increased bank charges and the reduction of VAT on the EAC accounts

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The Parliamentary Energy and Finance Committees are meeting today for the increased charges of the banks and the reduction of the VAT on the accounts of the EAC.

The Parliament opens today, in order for the Finance Committee to meet on the issue of the reduction of VAT on the EAC accounts, as well as the Committee on Energy, Trade, Industry and Tourism on the issue of the new bank charges.

On December 3, the opposition parties voted in favor of a proposal, based on which a reduced VAT rate of 9% will be applied to all EAC accounts for an indefinite period.

The proposal of the opposition, which received 31 positive votes against 14 and one abstention, was rejected by the President of the Republic, citing a violation of European law.

It is recalled that the government had its own proposal which provided for a reduced VAT of 5% for vulnerable groups of the population for a period of 6 months, while for the EAC accounts related to household use, a reduced rate of 9% for a period of 3 months.

At today's meeting of the Finance Committee, the Minister of Finance has been summoned as well as the Attorney General.

However, the Finance Committee, in addition to the law on reduced VAT on electricity, must also run the bills that constitute the reform of the Public Service, which were scheduled to be voted in the plenary session on December 9, but were postponed after a decision of the Council of Leaders of Parliamentary Parties. Specifically, you call on the Finance Committee to consider one of the three pending bills concerning the system of evaluation and promotions of Civil Servants.

In fact, the passage of these bills is part of the prerequisites for the disbursement of the 2nd installment of 85 million euros, from the recovery fund.

The increased charges of the banks in the Parliament

At the same time, the Committee on Energy, Trade, Industry and Tourism will also hold an extraordinary meeting today in order to inform the members of the committee about the new increased fee charges announced by the banks. The briefing of the Members of Parliament will focus on the consequences that will have for the consumers with the implementation of these charges.

The meeting of the Committee will be attended by the Minister of Finance, the Director of the Central Bank as well as the heads of various relevant organizations and bodies.

It is recalled that the increases announced by the Banks, provoked a wave of reactions from politicians, organized groups and citizens. Relevant announcements were also issued by the Central Bank and the Ministry of Finance.

Source: economytoday