VAT CHANGES IN GREECE
According to the new Greek Law N.4334 (ΦΕΚ Α' 80/16-07-2015) VAT is now 23% instead of 13%.
The new rate of VAT is due for all charters executed in Greece from July 20th 2015 onwards, irrespective of the date the charter contract was signed. The new VAT rates are as follows:
- A. Charter duration of 3 days or moreCategory I, vessels entitled to perform International cruises: Discount 60%, therefore the applicable VAT rate is 9,2% (instead of 5,2% previously)
- Category II, vessels entitled to perform Long Range cruises within the Greek waters: Discount 50%, therefore the applicable VAT rate is 11,5% (instead of 6,5% previously)
- B. Charter duration up to 48 hoursThere is no discount for cruises up to 48 hours, regardless of a vessel's category, therefore full VAT of 23% is due (instead of 13% previously).