From the 01.06.2016 the normal VAT rate of 23% will become 24%, upon release of the corresponding measure through the Greek parliament.

Also from 01.06.2016, the VAT rates on the following islands are going to become equal to the VAT rates on the rest of Greece, that means that, the normal  rate will become 24%, the reduced  becomes 13% and the highly reduced will become 6%.

These increases apply to the following islands: Syros Thassos Andros, Tinos, Karpathos, Milos, Skyros, Alonissos, Kea, Antiparos and Sifnos.

The  reduced by 30% rates applicable at the Aegean islands (which continue to apply reduced rates) have been defined as follows : 17%, 9% and 4%.

These rates will apply until 01.01.2017 on the following islands:

The prefectures Lesbos, Chios, Samos, the Dodecanese except Rhodes und Karpathos, the Cyclades except Syros, Naxos, Andros, Paros, Tinos, Milos, Mykonos, Kea,  Santorini/Thira,  Sifnos  and  Antiparos, the island Samothraki and the north Sporades except  Skiathos, Alonnisos and Skiros.

 

Note:

The company bears no responsibility for the aforementioned topics which are exclusively for information purposes.

In case you have any personalized requests or needs to cover and for the proper use of any information obtained from this article, it is important to seek additional expertise advice. 

 

According to article 42 of the aforementioned Law it is defined that:

  • If the taxpayer is entitled to an income tax return, the Tax Authority, after setting off the due taxes from the taxpayer with the amount to be reimbursed, shall proceed to the return of any resulting dispute.
  • The refundable amount is paid to the taxpayer within ninety (90) days from the submission of the relevant written request, unless a shorter period is provided by another provision of the tax law.
  • In a written statement of the taxpayer, which is included in the request for the return, the refundable amount may be deducted ("stored") from the Tax Authority, in order to be credited against future liabilities of the taxpayer.
  • The claim for a tax refund which was paid unduly shall fall under the statute of limitations at the time, during which the right of the Tax Authority to issue a tax assessment act shall fall also under the statute of limitation, in accordance with the provisions of paragraphs 1 and 2 of Article 36 of the Income Tax Code regarding the corresponding tax liability, from which the claim of the taxpayer for a return arises.

Further, the article 36, paragraph 1 of the aforementioned Law defines that: