05.27.22

Further extension of VAT rates on certain products

The post-Covid recovery appears to be slow in nature, as reflected through the extension of reduced rate many countries are deploying.

Greece has announced a third extension of the VAT rate on certain products, from 24% to 13%. These products include:

• coffee;
• transport;
• non-alcoholic drinks;
• cinemas;
• gyms and dance schools; and
• tourism packages.

The VAT rate was first reduced on 30 June 2020, and subsequently extended on 1 October 2021 and again on 30 June 2022.

The reduced rates are expected to last until 1^st January 2023.