Five Greek Islands Allowed To Retain VAT Concessions
by Lorys Charalambous, Tax-News.com, Cyprus
27 December 2017
Greece has agreed to keep in place reduced rates of value-added tax in five Greek islands for a further six months.
Greece had agreed to remove concessionary rates of value-added tax on all the Aegean islands from January 1, 2018, in extra terms added to the bailout agreement with international creditors.
It has now been announced that Chios, Samos, Lesvos, Kos, and Leros – five islands facing higher costs as a result of the arrival of significant numbers of refugees – will continue to benefit from VAT rates that are 30 percent lower than in the mainland until June 30, 2018.
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