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Greek island VAT rise delayed again

  • Jun 22, 2020 | Richard Asquith

The discounted VAT regime for five Greek islands has been extended again. This time to 31 December 2020.

The islands enjoy a 30% discount on Greek VAT rates. The islands are: Chios, Kos, Leros, Lesbos, and Somos. The discounted VAT rate was due to set to the regular Greek rates from 1 July 2020.

This was part of the negotiated Euro-currency crisis bail out in 2012, led by the European Commission, European Central Bank and International Monetary Fund.

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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 won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.
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