Persistent VAT gap of 26% brings range of digital recommendations The Bank of Greece has put forward a range of proposal to tackle the Greece’s VAT gap, the measure of actual tax receipts versus expected, is one of the highest in the EU at 25.8%,
Finance Ministry considering food VAT rate cuts during inflation spike Last week, the Greek government confirmed a revaluation of cutting Value Added Tax rate on basic foodstuffs. The current reduced rate is 13% on certain foods; 24% on most other supplies. The Finance Ministry may
COVID-19 forces further prolongation of reduced VAT rates on key supplies Greece has announced a further extension of the temporary cut in the reduced Value Added Tax rate on certain goods from 24% to 13%. The rate will now not return to normal until 30
Sales e-invoice reporting goes ahead; purchase reporting to follow from 1 Jan 2022 Greece’s Ministry of Finance and Greek tax office, AADE, started the voluntary the rollout of its VAT transactional reporting from 1 July 2021 via e-invoice and e-book reporting. Sales invoice reporting started
The Greek Ministry of Finance has provided updates on filing deadlines for the new myDATA e-books and e-invoices, plus the certified cash registers. The introduction of the new transactional reporting of income and purchases has been voluntary since October 2020, and was due to go
Greece is to join the majority of EU member states and switch electronic books and publications from the 24% standard VAT rate to its 6% reduced rate. The changes is now confirmed fro 18 July 2021 gazette. EU harmonises e-books and journals VAT rates 2018
The Greek finance ministry has announced that the reduced Value Added Tax rates enjoyed by Chios, Kos, Leros, Lesbos and Samos have been extended indefinitely. As locations for refugee centres over the past years, plans to withdraw a holiday VAT rate discount enjoyed for years
Greece is expected to go ahead with the severally delayed introduction of electronic transaction-based reporting regime, myDATA (my Digital Accounting & Tax Application), from 1 July 2021. This includes quarterly reporting of electronic invoices and accounting books via the state myDATA reporting platform. In this
Third VAT increase following bail out Greece has raised its standard Value Added Tax rate from 23% to 24% from 1 June 2016. This reflects the struggling budget deficit and commitments made to its Euro bail out partners, the European Central Bank, EU Commission and
