July 3, 2024
Economy, FEATURED
Dear visitors of Greece. please, do not be surprised if you pay for the same cup of coffee two different prices. Nobody tries to cheat you. It’s just the Greek government that increased the Value Added Tax (VAT) to 24% as of July 1, 2024, for coffee and other beverages …
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May 24, 2024
Economy, FEATURED
“We do not reduce the VAT on food, because we do not want to encourage consumption.” This was said by the finance minister of the country where political nonsense has reached an unprecedented level and F*ck Logic prevails. In an interview with Mega TV on Friday, finance Minister Kostis Hatzidakis …
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January 5, 2024
Economy, FEATURED
An unprecedented situation prevails in greece in the first days of the year with the different VAT charges imposed on soft drinks, juices, coffee and tea from January 1, 2024. The VAT charges depend on whether the drink is consumed inside -24% VAT – or outside the store – 13% …
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October 3, 2023
Economy
Finance ministry sources said on Tuesday that “reduction of VAT gap could bring additional 2 billion euros annually.” Speaking to state-run news agency amna, the finance ministry sources said that measures designed to combat tax evasion, which are currently in the implementation stage or have already been implemented, will lead …
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September 21, 2023
Economy
Representatives of the short-term rentals sector as well as of the hotel sector, are in favor of the measures recently announced by the government regarding the imposition of VAT and accommodation fee. However, as they argue, there are some issues regarding the specific measures that have not yet been clarified, …
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September 18, 2023
Economy, FEATURED
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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June 5, 2023
Economy, FEATURED
Also ahead of the June 25 elections, New Democracy insists that any Value Added Tax (VAT) reduction in food and other basic items will primarily benefit the wealthy and therefore there is no point in implementing it. This attitude was initially promoted during the ND governance, when prices in supermarkets …
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October 20, 2022
Greece
“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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September 25, 2022
Economy
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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July 25, 2022
Economy, Uncategorized
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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February 17, 2022
Economy, FEATURED
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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January 12, 2022
Economy
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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June 15, 2021
Economy, FEATURED
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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February 8, 2021
Economy
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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December 4, 2020
Economy
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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March 22, 2020
CORONAVIRUS
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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January 17, 2020
Economy
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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October 24, 2019
Economy
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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June 27, 2019
Economy
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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May 20, 2019
Economy
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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