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Greece Confirms Permanent Extension of VAT Reduction for Five Islands — Orbitax Tax News & Alerts

The Greek Public Revenue Authority (AADE) has published Decision A. 1150 of 29 June 2021, which was published in the Official Gazette on 30 June 2021 and confirms the permanent reduction in the VAT rate for five Greek islands as announced earlier by the Ministry of Finance. The decision provides that VAT rates for the islands of Chios, Kos, Leros, Lesbos, and Somos are reduced by 30% from 1 July 2021 onwards. The 30% reduction was applied previously as well but needed to be renewed every six months, which is no longer required.