Tag Archives: VAT

“We cannot reduce the Value Added Tax in pasta, because the rich eat more than the poor.” The statements by New Democracy MP Constantinos Kyranakis about the government’s refusal to reduce the VAT triggered an outrage and a lot of taunt on social media on Thursday. “The rich and the …

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Greece’s draft state budget for 2023 is expected to be finalized this coming week, before its tabling in Parliament on October 3. Basic features include lower taxes for citizens, particularly for pensioners and civil servants, by abolishing of a solidarity tax, and increases in salaries. The revenues lost will be …

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Greece is one of the top five countries in the Organization for Economic Cooperation and Development (OECD) in value-added tax charges and the first in the eurozone, together with Finland. Indirect tax revenues currently make up about 56.4% of takings in Greece, while direct taxes account for 35.4% (the rest …

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Reducing the rates of Value Added Tax or Special Consumption Tax on fuels will not necessarily lead to lower prices for consumers, Development and Investments Minister Adonis Georgiadis said on Thursday. Speaking to public radio ERT 1 public radio station Georgiadis said “if you lower VAT, it does not mean …

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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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Greece will impose Value Added Tax on e-commerce parcels arriving from 3rd, non-EU countries, the Independent Authority for Public Revenues announced on Tuesday. The measure will be imposed as of July 1, 2021. The VAT will burden all parcels worth up to 22 euros regardless of the time the order …

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Finance Minister Christos Staikouras announced on Monday that the total cost of support measures to deal with the pandemic in the first quarter of this year amounts to 5.9 billion euros so far. He added that the monthly cost to the economy from the health crisis was now 2.4 billion …

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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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Greece has limited to three the number of antiseptics and disinfectants each customer can purchase at a time. The products include also ethyl alcohol. The restriction refers to purchases in supermarkets and pharmacies.These products will be sold in individual packages. The measure became essential as Greeks have been emptying shelves …

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Greece has the highest Value Added Tax rate in the Eurozone, while it ranks 5th in the European Union, a study by the US-based Tax Foundation finds. When it comes to VAT, Greek households are one of the most burdened in Europe. According to the report, Greece is in the …

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Prime Minister Kyriakos Mitsotakis announced a three-year suspension of Value Added Tax (VAT) on new building permits but also on unsold properties built after 1. January 2006. Aim of the measure is to ease the huge stock of unsold properties and stimulate the construction activity. The exemption covers all real …

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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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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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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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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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Prime Minister Alexis Tsipras announced on Tuesday the reduction of Value Added Tax on food items and catering services. The reduction from 24% to 13% is expected to contract a  relief for millions of Greek households who have been paying a high price to staple food items since 2015. Which …

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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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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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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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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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