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Tag Archives: Value Added Tax

Finance Ministry extends reduced V.A.T. for 5 islands in the Aegean

The Finance Ministry has extended the implementation of reduced Value Added Tax V.A.T. for five islands in the Aegean Sea for another six months. The five islands are these that have been receiving the largest migrants inflows. According to the Finance Ministry decision the reduced V.A.T. will be valid for …

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Reduced VAT for food, social services, hotels goes into effect as of May 20

Greece’s Independent Public Revenues Authority has issued a circular with regards to the new decreased Value Added Tax that goes into effect as of Monday, May 20, 2019. The circular analytically describes the sectors affected by the decreased V.A.T. It affects hundreds of food items, catering services but also hotels …

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VAT reduction for coffee at supermarkets but not when served in a cup

The Value Added Tax for coffee,tea and herbal teas will be reduced from 24% to 13% when sold in supermarkets, Greece’s Finance Minister Euclid Tsakalotos said on Tuesday. His statements come amid criticism that the V.A.T. reduction created a confusion and while the draft law is expected to be voted …

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EU Commission threatens Greece, Cyprus and Malta over V.A.T. on yachts

 The European Commission has put Malta, Greece and Cyprus on notice of infringement proceedings for not levying the correct amount of Value Added Tax on the provision of yachts.  And some wonder why this when an identical system is used in France. This issue can generate major distortions of competition and …

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Greek government to scrap 23% V.A.T in private education & introduce gradually increasing rates

Greek government took an important decision: to scrap the 23% Value Added Tax in private education and introduce gradually increasing VAT rates, while kindergartens and nurseries will be free of V.A.T as before September. According to Athens News Agency report Tuesday noon, the new rates will be: 0% for kindergartens …

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Greece always good for a laughter: on lowering V.A.T. in catering

I openly confess: despite the non-sstop austerity measures, the tax hikes and the strict income decreases that make living unbearable, Greece never stops from triggering a loud, healthy laughter. Maybe the government does it on purpose… you know… for psychological reasons. To make us laugh and forget our misery for a …

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Are Greeks Really Insane? 23% VAT for Salty, 13% VAT for Sweet

More than one month after the implementation of the increased Value Added Tax on catering items and beverages, the Finance Ministry issued an clarifying circular. It is the absurdity that only a Greek official can think of.  News portal NewsItdescribed a simple example: The Bougatsa, a pie made of puff …

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