Consumption/VAT/Sales Tax in Greece
Accounting (0) , Consumption/VAT/Sales Tax (1) , Corporate Tax (0) , International Tax Treaties (0) , Personal Tax (0)
Overview by Globlatrade.net:
- Nature of the Tax
- A value-added tax (VAT) applies in Greece.
- Standard Rate
- Reduced Tax Rate
- 13% and 6.5%. The reduced rate of 13% indicatively applies to food products, pharmaceuticals, medical equipment and ancillary goods, transportation of persons, etc. The low rate of 6.5% applies to books and printed material as well as entries to theatres etc.
- Exclusion From Taxation
- In many cases, exports are not subject to value added tax. Similarly insurance services, educational services, legal services, medical services and more are exempt from VAT.
- Method of Calculation, Declaration and Settlement
- Corporations must file their periodical VAT return on a monthly basis, namely by the twenty sixth (26th) day of the month that follows the period under assessment. This obligation to file VAT returns applies irrespective of whether the corporation is in a debit or credit VAT position. Corporations that effect intra-Community supplies or acquisitions or claim a VAT refund are under the obligation to file periodical VAT return statements on a monthly basis irrespective of whether their outputs exceed their inputs.
- Other Consumption Taxes
- Real Estate transfer Tax, Real Estate Tax, Inheritance and gift tax.
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