Greece changes VAT recovery process for resident companies

The Greek Value Added Tax authorities have recently overhauled its procedures for resident companies and local branches of multinationals to recover Greek VAT.

The new measures will shorten dramatically the time to recover VAT, from over six months in cases to up to two months.  The VAT authorities will also reduce the number of automatic VAT audits.

Companies will also be able to apply for an immediate refund of VAT credits rather than rolling over any VAT surplus to future reporting periods.

Any delays to the above schedules will entitle companies to overdue interest payments.

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