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    • UK Based Global VAT and Tax Consultants
    19
    Jun

    Greece Extends VAT Reduction For Five Islands Until December 2020


    The Greek Ministry of Finance has recently confirmed  the signing of a joint decision that extends the 30% reduction of the standard VAT rates for the islands of Chios, Kos, Leros, Lesbos, and Somos to 31 December 2020. Without the extension, standard VAT rates would have applied from 1 July 2020. The five islands are the last islands eligible for the VAT reduction, which has been phased out for other Greek islands as part of Greece’s bailout agreement with the EU and the IMF. Unless a further extension is approved, standard VAT rates will apply for the islands from 1 January 2021.


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    We are specialists in global indirect tax management. We help businesses to manage their worldwide compliance with respect to VAT/GST and similar taxes, effectively and economically. Essentia Global Services – European / International / Global vat tax compliance consultants and management agents. Essentia also provides VAT Training Courses and an EU VAT Number Lookup Platform. VAT Global Management & International VAT Registration.