Despite progress against tax evasion, Greece continues to lag Europe in VAT revenues, as multiple exemptions and reduced rates shrink the tax base and limit collections, according to IOBE and new research from the Tax Foundation

Under the exemption, eligible businesses will not be required to submit VAT returns and can issue simplified invoices, reducing overall administrative costs.

The Independent Authority for Public Revenue (AADE) in Greece will intensify VAT refund checks, increasing targeted audits, cross-checking POS data, and reviewing suspicious claims to combat tax evasion and prevent illegal refunds.

Prime Minister Kyriakos Mitsotakis announced a VAT reduction for Greek islands with fewer than 20,000 residents, expanding a special tax regime that had previously applied to only five islands

To help businesses prepare, Greece’s Independent Authority for Public Revenue (AADE) has issued an informational bulletin outlining the upcoming changes.

The European Commission (EC) sent two formal letters of notice to Greece after it was deemed to have failed to comply with VAT directives and to communicate actions and transpose into its national law relevant directives linked to the imposition of reduced VAT rates for certain products and small enterprises. According to the the first […]

Reduced VAT rate of 13%, from the maximum 24%, aims to support efforts to stem skyrocketing cost-of-living