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31 January 2018

Greece extends reduced VAT rate for certain islands impacted by refugee crisis

On 19 December 2017, the Greek Ministry of Finance issued a Press Release by virtue of which, an extension was granted for the application of the reduced Value Added Tax (VAT) regime (a 30% reduction in rates compared to the standard VAT rates) until 30 June 2018 for the islands of Lesvos, Chios, Samos, Kos and Leros, all affected by the refugee crisis. The extension for the application of the reduced VAT regime in these specific Aegean islands, announced on 19 December, was ratified by article 74 of Law 4509/2017, published in the Government Gazette on 22 December 2017, while Ministerial Circular POL 1009/2018 was subsequently issued on 16 January 2018 with notification of the respective provision.

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CONTACTS

For additional information with respect to this Alert, please contact the following:

Ernst & Young Business Advisory Solutions S.A., Athens

  • Stefanos Mitsios
    stefanos.mitsios@gr.ey.com
  • Tassos Anastassiadis
    tassos.anastassiadis@gr.ey.com
  • Vetta Zournatzidi
    vetta.zournatzidi@gr.ey.com
  • Vasiliki Tzourmana
    vasiliki.tzourmana@gr.ey.com

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