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Search Results for: Value Added Tax

Bitter disappointment: Value Added Tax for Coffee won’t be reduced

Greeks cheered on Tuesday to hear the reduction of Value Added Tax form 24% to 13%. On Thursday, they were deeply disappointed to learn that their most favorite drink, the coffee, won’t be any cheaper. The Greek Finance Ministry clarified on Wednesday evening that the V.A.T. in Coffee, Tea, Chamomile …

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Value Added Tax on fire: Crazy hikes in food & tourism

More than 40,000 food items are been sold with a poisonous 10% Value Added Tax hike as of today and expect to burden the average Greek household with at least 55 euro per month.Beef, coffee, tea, cocoa, spices, sugar, oils – except olive oil, ice-creams, chocolates, but also condoms and …

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Greece bows to Troika’s demands: Hikes in Value Added Tax to hit tourism

Greece’s resistance to Troika’s demand did not last long. Just a couple of days after the negotiations failure in Paris, the country’s lenders e-mailed the Greeks that they should definitely need to impose additional austerity measures and fill the hole of estimated 2.5 billion euro in the budget of 2015.  …

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Tax changes for Airbnb owners; accommodation fee increase

Property owners who operate three or more Airbnb-type properties will be called to have closer contacts with Greece’s tax office, Prime Minister Kyriakos Mitsotakis announced on Saturday. At the same time the PM announced also an increase in the accommodation fee in order to cover up costs for damages caused …

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Greece to take another step against notorious tax evasion

Greece’s Independent Public Revenues Authority, AADE, will tighten its fight against the notorious tax evasion and will expand the use of electronic payments through POS to more professionals. AADE has reportedly assumed a series of initiatives which start to unveil one after the other which significantly limit the action space …

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Greece’s tax authorities use algorithm in delivery platforms to catch hidden income

Greece’s Independent Authority for Public Revenue (AADE) has said it has identified 14 restaurants and cafes around the country that failed to issue receipts for 449,000 orders with a total value of €5.15 million. In addition to hiding their income, the businesses collected €592,000 in Value Added Tax from their …

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OECD: Social security contributions, property & consumption taxes remain high in Greece

Greek citizens continue to pay among the highest social security contributions in Organization for Economic Cooperation and Development (OECD) countries, while consumption and property taxes remain high too, according to a Tax Foundation study. On the contrary, revenues from the income taxation of individuals and corporations are significantly lower than …

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Greece to lower ENFIA tax, set property prices in coastal areas on islands

The Greek government is committed to lower the ENFIA special property tax by 8 percent, Finance Minister Christos Staikouras said on Tuesday. At the same time he announced the setting of property prices in “high-value regions, mostly coast areas on Greek islands.” Speaking to “Parapolitika” FM, Staikouras gave assurances that …

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Finance Ministry: Thomas Cook affected hotels will not pay “stay-over tax”

The Greek Finance Ministry will exempt hotels hurt by the Thomas Cook collapse from the payment of “stay-over tax.” A relevant Legislative Act is underway and it will refer for the time period from September 23 to October 10, that is for as long as the repatriation operation by the …

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PM Mitsotakis goes ahead with tax relief measures – Draft proposals

Prime Minister, Kyriakos Mitsotakis, is set to fulfill one of his pre-election promises, may the most important one that helped him also emerge as the winner of the elections last Sunday: tax relief measures. The plan is top priority for the new Greek government. A draft has been apparently already …

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High taxation boosts coffee smuggling in Greece, says ECF

“Such high taxation strengthens coffee smuggling and reduces the chances for investments,” commented Mario Cerutti, president of the European Coffee Federation (ECF) said describing the impact of coffee taxation in Greece Coffee in this country is not only aggravated with value-added tax but has also been saddled with a special …

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Tax inspectors find 12 tax violations in “golden Calamari” restaurant on Mykonos

Tax inspectors paid a visit to the high end restaurant at Platis Gialos on the island of Mykonos that was shamed on internet for over-charged prices. Inspectors have reportedly found not one, not two but 12 tax violations. The denouncement that a group of US tourists paid 836 euros for …

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