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Greek Aegean Islands To Lose VAT Rate Perk

by Ulrika Lomas, Tax-News.com, Brussels

11 January 2017

Greece removed preferential value-added tax rates for a further group of islands from the beginning of this year.

The islands were entitled to levy a VAT rate 30 percent lower than the headline value-added tax rate.

They must now levy a headline rate of 24 percent, as opposed to the 16 percent rate they had previously offered (when the headline rate was 23 percent).

The measure affects Karpathos, Milos, Skyros, Syros, Alonnisos, Kea, Antiparos, Thasos, Andros, Tinos, and Sifnos.

TAGS: tax | value added tax (VAT) | tax rates | Greece

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