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Greece extends island VAT cuts indefinitely

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 has been rolled over. The current postponement was scheduled to run out 30 June 2021.

Holiday island VAT cut ended by debtors

The reductions, equivalent to a 30% reduction on the 24% standard rates and the reduced rates, are now placed into effect until further notice. The withdrawal of the subsidy had originally been agreed between Greece and its debtors, the European Union, European Central Bank and International Monetary Fund.

 

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