Greece | Launches Consultation on Electronic Bookkeeping

By |August 16th, 2019|

The Greek Finance Ministry has launched a consultation on its planned introduction of online electronic bookkeeping which will require all taxpayers to keep their accounting records digitally. Further to our previous story on Greece’s plans to introduce a mandatory real-time electronic invoicing system, the initiative has been put on hold. [...]

Greece / Aegean Islands’ Preferential VAT Rate Treatment to Continue Until December 2019

By |July 8th, 2019|

Greece has extended the application of discounted VAT rates to five Aegean islands until the end of the year.  This favourable tax regime was previously due to expire on 30th June 2019. Currently, the islands of Lesbos, Chios, Samos, Kos and Leros benefit from a 30% discount to the normal [...]

Greece | Anti-Austerity Package Lowers VAT on Basic Food, Catering Services and Energy

By |May 22nd, 2019|

The Greek Parliament has recently passed the government’s anti-austerity package which will come into force on 20th May 2019. The measures relating to VAT are as follows: Reducing the 24% rate of VAT to the reduced 13% rate for: Food items such as oils, cocoa, stock-cubes, ice-cream, sugar, salt, yeast [...]

Greece | Implements EU Voucher Rules Directive Amongst Other VAT Measures

By |May 8th, 2019|

On 1st May 2019, the following amendments to the Greek VAT Code, were published in the Official Gazette: The main change, effective as of 1st January 2019: relates to the implementation of the EU Vouchers Directive (Council Directive (EU) 2016/1065), which all EU Member States are required to transpose into their [...]

Greece | Publishes Annual Report Detailing Exchange of Information

By |May 3rd, 2019|

The Greek tax authority recently issued the annual report of its activities in 2018, detailing the information it exchanged with other Member States’ tax authorities. According to the report it had: Completed 683 requests for administrative assistance; Completed 699 requests for administrative assistance in VAT matters and replied to 816 [...]

Greece | Changes to VAT Law Effective from January 2019

By |April 18th, 2019|

As of 1st January 2019, newly adopted amendments to the Greek VAT Code provide for the following: The scope of the 6% reduced VAT rate is extended to apply to: Sticks and Braille typewriters for the visually impaired; and Concert tickets which do not provide any other supply, other than the [...]

Greece | Extension to Aegean Islands’ Preferential VAT Rate Treatment in 2019

By |January 17th, 2019|

Unlike the rest of the Greek islands, throughout 2018 the islands of Lesbos, Chios, Samos, Kos and Leros have continued to enjoy a 30% discount to the normal VAT rates in Greece. Prior to entering the EU bailout programme, Greece’s remote islands had benefited from this special VAT rate regime [...]

Greece | Businesses Gain Right to Retroactive VAT Refunds Under New Tax Policy

By |September 28th, 2018|

The Greek tax authorities have changed their position on refund claims filed by retrospectively VAT-registered businesses for the input VAT incurred before they had registered for VAT. Until now, such claims had often been denied. Under a recently released circular, the Greek tax authority has set out that a business [...]

Greece | Plans to Lower Standard and Reduced VAT Rates in 2021

By |September 20th, 2018|

As of 1st January 2021, changes to the rates of Greek VAT are expected as follows: The standard VAT rate will be cut to 22% from the current 24% rate; and The reduced VAT rate will decrease to 12% from the current 13% rate. Signalling the end to austerity, the [...]

Greece | Application of Discounted VAT Rates to Aegean Islands Extended until December 2018.

By |August 5th, 2018|

On 29th June 2018, a legislative act was published in Greece’s Official Gazette, extending the application of discounted rates of VAT to five Aegean islands until the end of the year. This favourable tax regime was previously due to expire on 30th June 2018. Currently, the islands of Lesbos, Chios, [...]

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