Greek VAT rates and VAT compliance
Greek VAT rates
Whilst the European Union sets the general tax rules, Greece still sets the VAT rates. An exception is the minimum standard VAT rate, which must be above 15%. There are also rules on which goods may be within the reduced VAT rate brackets. It is important that companies use the correct rates since they are liable for any shortfall.
The current rates are:
Greek Covid-19 VAT rate cuts
Greece has temporarily cut VAT to help support businesses and consumers during the Coronavirus pandemic crisis.
|Supply||Old rate||New rate||Implementation date||End date|
|Public transport, taxis, ferries||24%||13%||01 Jun 2020||31 Oct 2020|
|Transport and non-alcoholic beverages||24%||13%||01 Jun 2020||31 Oct 2020|
|Accommodation and hotels, restaurants, cafes and catering, passenger transport||9%||5%||01 Jul 2020||9 Jan 2021|
|Rate||Type||Which goods or services|
|24%||Standard||All other taxable goods and services|
|13%||Reduced||Some foodstuffs; certain take away food; some cut flowers and plants for food production; some non-alcoholic beverages; water supplies; some pharmaceutical products; some medical equipment for disabled persons; some agricultural supplies; domestic care services; hotel accommodation (bed and breakfast); certain social services; restaurant and catering (other than entertainment centres); services for boarding schools; structures for disabled persons; structures providing accommodation for mentally disabled persons, people with mental disorders and drug users
||Some pharmaceutical products; some books (excluding e-books); some newspapers and periodicals; certain theatre and concert admissions; supply of electricity, gas and district heating
|0%||Zero||Intra-community and international air and sea transport|
Greek VAT compliance
Following obtaining a Greek VAT registration, non-resident companies must apply the rules on VAT accounting, invoices, rates and other procedures. This includes:
- Only issuing invoices with the disclosure details outlined in the Greek VAT Act.
- Correct invoicing of customers for goods or services in accordance with the Greek time of supply VAT rules.
- Use of e- invoices which must be in accordance with the latest Invoicing Directive.
- Up keep of VAT books and other records to support and VAT returns, Intrastat and ESL declaration
- Processing of credit notes and other corrections.
- Use of approved foreign currency rates.
What is the tax point for Greek VAT?
The tax point (time of supply) rules in Greece determine when the VAT is due. It is then payable to the tax authorities 10 days after the VAT reporting period end (monthly or quarterly).
For most goods, it is the time of delivery or passage of title. For services, it is the completion of the service.
Need help with your Greek VAT compliance?
Researching Greek VAT legislation is the first step to understanding your VAT compliance needs. Avalara has a range of solutions that can help your business depending on where and how you trade.
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