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Greece wants to cut reduced VAT rate

  • VAT
  • 07 June 2014 | Richard Asquith

Greece wants to cut reduced VAT rate

Greece has launched an ambition set of promises on lowering the rates of major taxes. This included cutting the reduced Greek VAT rate from 13% to 12%.

The Greek VAT rate increased twice during the financial crisis and is now 23%.

Many of goods previously categorised at the reduced rate were subsequently reclassified at the 23%, including restaurant services. However, Greece moved restaurant and tourism services back to 13% VAT.

The Premier, Antonis Samara, said corporation and income taxes will also be reduced to 15% and 33, respectively.


VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.