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Tag Archives: VAT

“VAT to be reduced in some products,” says one minister, “no way” says another

Development and Investment Minister Adonis Georgiadis left open the possibility of reducing the Value Added Tax on a series of  products to contain price increases. Speaking to Mega TV on Tuesday, Georgiadis said that the government is considering reducing the VAT on certain products, adding that this is a measure …

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Lower VAT for 5 islands dealing with migration extended until June 2021

A special lower Value Added Tax (VAT) rate for the five islands coping with the migration crisis has been extended until June 2021, the government announced on Friday. The lower VAT is for the islands of Lesvos, Chios, Samos, Leros and Kos. The extension is based the relevant Joint Ministerial …

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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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Greek Parliament passes bill for “relief measures”, settlement for state debtors

The overwhelming majority of Greek Parliament approved the Labor Ministry bill introducing the 120-installment settlement for debtors to the state as well as the package of “relief measures” like the reduction of Value Added Tax and the so-called “13th pension.” The bill was voted in principle by ruling party SYRIZA, …

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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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Greek PM announces V.A.T reductions in food, electricity, gas and 13th pension

Prime Minister Alexis Tsipras announced a package of relief measures to relieve the life of debt-ridden Greek households. Among the measure for 2019 is the generous reduction of Value Added Tax in food items, catering industry, electricity and natural gas as well as the distribution of so-called 13th pension. Value …

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Ambassador Ploetner denies “migrants’ returns trade” between Germany and Greece

German Ambassador to Greece Jens Ploetner  has vehemently rejected speculations that Berlin traded with Athens to accept migrants’ returns in exchange of suspension of VAT hikes on islands hit by the Refugee crisis. In an interview with Kathimerini, Ploetner vehemently denied speculation that the name deal signed between Greece and …

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Airbnb rentals in Greece may be VAT-exempted under certain conditions

Short-term property rentals through online platforms like Airbnb can be exempted from Value Added Tax under certain conditions. According to a circular issued by the Independent Authority for Public Revenue, VAT exemption is provided in cases where the owner does not offer any additional services to guests comparable to hotel …

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Gov’t to hand out social aid €500-€2,100 to islanders as compensation for the VAT increase

An extraordinary social handout from 500 to 2,100 euros, depending on the family size and economic criteria, will be given to islanders in 2018 as a readjustment offset for the abolition of lower VAT scale applied on transactions on the Greek islands. On Tuesday, the government announced that VAT rates …

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OECD report: Greece only country that increased taxes, VAT and social contributions in 2016

Greece is defying the prevalent trend among the world’s industrialized nations for reducing tax rates in order to boost investment and competitiveness, a report published by the Organization for Economic Cooperation and Development (OECD) has shown. In contrast Greece has increased labor and corporate taxes, Value Added Tax as well …

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