Greek Islands Preferential VAT Treatment Extended
Cost of Living in Greece
How Much Cheaper is Greece than UK in General
- #1 10 per cent less?
- #2 20 per cent less?
- #3 30 per cent less?
- #4 More than 30 per cent less
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Many of the Greek islands have been granted preferential Value Added Tax treatment over the years.
There are only five islands left which have had their special VAT treatment extended for a further six months until the end of 2019. These are:: Chios, Leros, Lesvos, Kos and Samos.
Their tax band rates are 5% (instead of 6%), 9% (instead of 13%) and 17% (instead of 24%) respectively.
Meanwhile #CRETE and the other Greek Islands fall into line with the rest of Greece where the standard VAT rates are 6% (supply of fuels), 13% (related mainly to processed and packaged foods and in eateries) and 24% (almost all other goods and services).
The reason for the leniency on the five islands is that they are the ones most impacted by the wave of refugees over recent years that has devastated the islands’ economies especially tourism.
#Chios, #Leros, #Lesvos, #Kos and #Samos
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