Greece
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VAT

Greece Ranked Among Highest Beer Taxing Countries in EU

New data shows that Greece's tax on beer is among the top five in Europe. Each European country is required to have a Special Consumption Tax on beer, the minimum of which is 1.87 euro per 100 liters. Greece...

Greece Still Among Eurozone States With Very High Taxes on Consumption

According to a recent study conducted by the ''Tax Foundation'' think tank, Greece is still among those Eurozone member states that impose the highest taxes on consumption. Taxes on consumption are traditionally the highest in Europe, but after ten years...

Greece Freezes VAT on New Building Permits to Boost Housing Market

In an attempt to boost the Greek real estate market, PM Kyriakos Mitsotakis announced on Wednesday a three-year suspension of VAT payments on any new building permits as well as those to be made on unsold properties built after...

€7.4 Billion in VAT Revenue Lost in Greece in 2017; €137 Billion Lost EU-Wide

According to the latest data published by the European Commission on Thursday, the nation of Greece lost €7.4 billion in revenues from Value-Added Tax (VAT) that was not collected during 2017. The extent of the practice of tax evasion across...

Excise Tax and High VAT Make Beer Expensive in Greece

Beer in Greece is among the most expensive products in the European Union because of high excise tax and a 24 percent value-added tax. According to the current European Commission Directive, each Member State is required to impose a minimum...

Greece the Most Difficult Country to Set Up a Business

Greece is the most difficult country in the world to set up a business due to bureaucracy, frequent changes in legislation, differences in VAT depending on the region and unpredictable treatment of businesses by state and local authorities. Greece comes...

Greek PM Offers Relief Measures as Elections Loom

Greek Prime Minister Alexis Tsipras on Tuesday unveiled several “relief measures,” including reinstating a benefit for pensioners who had their income slashed in 2012 and lowering value added tax (VAT) in some categories. Less than twenty days before the crucial...

Low VAT Rates for Five Aegean Islands Extended Six Months

People who live on the five Greek islands which have been the most heavily burdened in dealing with the influx of migration for the past three years will keep their special, reduced VAT rate. The Greek government published a legislative...

Greek Government Extends Low-VAT-Rate Period For Five Aegean Islands

Five Greek islands that have dealt with the brunt of migration inflows will keep their reduced VAT rate, Migration Policy Minister Dimitris Vitsas said on Friday, after the parliament plenary passed the ministry's bill containing that provision. Vitsas said that...

Good News for Music Fans as Greece Prepares to Lower Taxes on Concert Tickets

According to Greece's Deputy Finance Minister, Katerina Papanatsiou, the country's Finance Ministry will reduce the VAT rate applicable on concerts and music events, where no other services are provided, from 24 percent to 6 percent. The change will be enacted...