Greece joined the European Union in 1981, and became a member of the Eurozone in 2001, adopting the currency of the Euro.
VAT rates in Greece
The standard rate of VAT is 23%, and reduced rates of 6.5% and 13% are available.
VAT registration in Greece
There is no VAT registration limit in Greece for either established or non-established businesses.
Distance sales have a limit of €35,000 for VAT registration.
The format for a VAT identification number is: EL 123456789. Every company must hold a number like this in order for accurate taxation.
Established businesses must submit VAT returns monthly if their turnover exceeds €1,500,000 and quarterly if turnover is below €1,500,000. Non-established businesses must submit VAT returns quarterly. Annual returns are also required.
Are there any Intrastat thresholds in Greece?
Yes. There is a limit of €90,000 for dispatches and €100,000 for arrivals.
VAT recovery in Greece
- Is VAT recovery permitted for non-established non-EU businesses?
Yes, but only if a reciprocity agreement is in place between Greece and the non-EU country.
- Are there any non-VAT recoverable expenses?
Yes, recovery of input tax is restricted on certain items, i.e. hotel accommodation and cars.
Reverse charge applies to the majority of cross border services. An extended charge applies to a Greek VAT registered person supplied services by a non-established business.
Requirements and regulations in Greece
Any company established in a non-EU member country must appoint a tax representative to register for VAT in Greece.
Use and enjoyment rules apply to services such as advertising and goods hire.
The period of VAT recovery by tax authorities has a timescale of 5 years in order to prevent fraud.
Similarly, there is a period of 3 years for VAT deductions and refunds.
Please contact us for further information about paying taxes in Greece, and a member of our team will be happy to help you.