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VAT

Greek State Revenues €500 Mln Less than Expected in July

State revenues from taxes in July were 500 million euros less that the ministry of finance had anticipated, thereby threatening fiscal targets. While taxpayers paid the first monthly income tax installment as anticipated, revenues from customs were far below expectations....

Tax Checks on Hotels by Inspectors Disguised as Vacationers

The General Secretariat of Public Revenue is carrying spot checks at 1,545 hotels being investigated for their bookings and cost of night stays. The tax inspectors appear disguised as customers to ensure that hotel fees are aligned to their...

State Debts to Private Sector in Greece Delay up to 4 Years

While the Greek state is pressing on debtors to repay their dues, state debts to the private sector take up to four years to be repaid, thus creating a liquidity problem in the market. Businesses wait from one to four...

Many Goods and Services in Greece Go Up June 1st After Tax Hikes

Greek consumers will see the prices of many goods and services go up as of tomorrow, June 1st, when new excise taxes and VAT raises go into effect. The tax hikes and new levies are part of the bailout agreement...

PwC Report: Greece's High Tax Rates Not Reflected in Revenues

Greece's tax system has very high taxation rates that fail to bring in proportionately high revenues, even though the "tax behavior" of its citizens is not significantly different from that of other Europeans, according to a PwC tax summary...

Defense Minister Calls Island VAT Hike he Voted on 'Criminal' and 'Unconstitutional'

Greek right-wing Independent Greeks (ANEL) leader/Defense Minister Panos Kammenos -- a junior coalition member of the Radical Left Coalition (SYRIZA) government --  fueled controversy with a statement he made on Tuesday while visiting the island of Syros. He said...

Greece to Impose €1.5 Bln Taxes to Unlock Loan Tranche

The Greek government has to impose 1.5 billion euros in taxes in order to unlock the next loan tranche and the multi-bill was tabled in parliament on Wednesday. Greek lawmakers have to read the 284-page omnibus bill in three days...

Government and Institutions' Representatives Agree on Package of Indirect Taxation

The government and the institutions representatives on Wednesday reached an agreement on the 1.8 billion euro package of indirect taxation, according to a government official. The same source said that this package provides for the increase of the core VAT...

Greek Islands with Mass Refugee Pressure Could be Relieved of VAT

Greece's Alternate Finance Minister Tryfon Alexiadis left open the possibility of abolishing VAT on Greek islands that are up against the social and economic stresses caused by the mass influx of refugees, while speaking in Parliament on Friday. Alexiadis also...

Greek Gov't to Raise Fee on Lottery Games in Place of 23% VAT Rate on Private Education

The Greek government will replace revenue from scrapped plans to impose 23% VAT on private education by raising a fee on lottery games operated by OPAP, according to an agreement reached between Greek authorities and the country’s creditors on...