Greece and its creditors have to reach a deal on Saturday on the reform list or Athens will default on a payment to the International Monetary Fund on Tuesday.
The Greek proposal offers a 0.93 percent of GDP annual revenue increase from a reform of the value added tax system, while creditors want the changes to deliver a 1.0 percent rise.
The Greek offer is smaller because Athens does not want to impose the highest, 23 percent VAT rate on hotels or restaurants, the key element of the country's main industry -- tourism. The creditors believe hotels and restaurants should be taxed at the highest rate.
Greece also wants to keep a 30 percent VAT discount on its islands, while creditors want the tax to be uniform throughout the country.
Further differences include military spending, which the creditors want Greece to cut by 400 million euros in next year's budget, while Athens is agreeing only to 200 million.
To boost government revenues and meet its 2015 fiscal targets, Greece is offering to introduce a one-off corporate tax of 12 percent on profits over 500,000 euros to meet fiscal target. It also offers to boost state income via a 30 percent tax on electronic gaming, and through the sale of 4G and 5G mobile telephony licenses.
On the politically sensitive issue of pension reform, Greece said in a proposal submitted on Thursday to its creditors that it was ready to "replace", but not phase out, a solidarity pension top-up by end 2018.
The creditors want this solidarity grant to be phased out completely by 2019.
The proposals also differ on the size of the contributions that pensioners have to make to the health system -- Greece wants to raise the fee from 4 to 5 percent, while the creditors believe it should go up to 6 percent.
Greece believes the pensions system could be better balanced through a restoration of employer contributions to 2014 levels, and an increase in contributions for supplementary pensions from 3 to 3.5 pct.
The creditors also want Greece to irrevocably commit to the sale of the electricity transmission company ADMIE, which Greece does not want.
(Reporting by Jan Strupczewski; editing by Adrian Croft)
