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 measure was announced by Greek Prime Minister, Alexis Tspiras, on 8th September 2018, as part of his government’s four-year strategy, to foster economic growth in light of Greece exiting the EU bailout programme. Cuts to other taxes were revealed at the same time.