VAT changes in Greece

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Vat changes in Greece

VAT changes in Greece

This is to advise you on the latest tax measures that were introduced by the Greek Government.

A new VAT rate of 24% instead of 23% has been announced for Greece and will effect all charters starting from June 1st 2016 onwards as follows:

A. Charter duration of 3 days or more
Category I, vessels entitled to perform International cruises have a discount of 60%, therefore the applicable VAT rate is 9,6% (instead of the previous 9,2%).
Category II, vessels entitled to perform Long Range cruises within Greek waters have a discount of 50%, therefore the applicable VAT rate is 12% (instead of the previous 11,5%).

B. Charter duration up to 48 hours
There is no discount for cruises up to 48 hours, regardless of a vessel’s’ category, therefore full VAT of 24% is due (instead of the previous 23%).