Greece is a member of the EU common marketplace sector and is subject to European Taxation regulations. The Union issues VAT Guidelines that outline the fundamentals of the value-added levy system that the member countries must implement. Local policy is modified by these Guidelines. Local tax authorities and the Department of Finance are in charge of its administration.
New regulations were introduced on July 1, 2021. The EU-wide distance sales limit of EUR 10,000 replaced country-specific VAT criteria. Any income from online sales underneath this new limit is still taxable in the nation of source or the company’s native country. In the nations where the products and commodities are supplied, all sales are subject to tax.
Greece VAT rates
In Greece, the usual levy ratio is 23%. For foodstuff and beverages, pharmaceuticals, transportation services, and others, there is a decreased tariff of 13%. The Taxation for hotels, medications, and vaccinations, children’s literature, publications, and other carefully chosen items is 6.5 percent.
The rates listed above can be altered in several ways, including for exempt taxable goods and services.
Greek VAT registration
Non-resident VAT commerce, which is open to all international investors, allows them to file for levy in Greece without having to create a local fixed platform. There is no Tax barrier in the country for non-resident businesses to register; a Tax identity must be established before making chargeable services.
The circumstances under which a license is allowed are subject to tight regulations. Typical circumstances necessitating a Greek taxation certification involve:
- Providing products that are, at the moment of delivery, present in the country;
- Online sales to private persons in the country, e.g. internet retailing or virtual services;
- Organizing live events, seminars, and other gatherings in Greece;
- Doing distance marketing to private entities there, such as through the Internet;
- Export of goods and services from Greece to other EU nations;
- Providing supply and installation services over 12 months;
- Any non-taxable person who offers construction materials;
- The private entities as well as legal entities that engage in commercial activity; and
- Anyone who provides brand-new conveyance from their nation to another EU country.
While this can fluctuate, it typically takes two to three weeks to file for Greek Goods and services tax.
Exemption from certification
Greece does not have a levy limit; hence all enterprises must apply for Registration. However, small businesses with a yearly turnover of under 10,000 euros may decide not to file for and submit Taxes.
They will be protected by the micro ventures program, and firms that choose to be included in it won’t be able to claim input tax back. For the below, the micro business plan is not applicable:
- Individuals engaged in the development of new modes of travel;
- Producers are liable to the flat-rate plan,
- Non-resident taxpayers,
- Providers of healthcare and hospital facilities,
- Teachers, professors, educators, and any schooling staff or institution
- Providers of insurance and reinsurance facilities, and
- Providers of cultural services.
Greek VAT returns
Businesses with a Greek Taxation id are required to file recurring returns containing information on all reported revenue and inputs (costs). In Greece, returns are typically filed every quarter. The country has a deadline for filing returns on the 25th of the month after the filing term.
Greece VAT refunds
Any Greek tax paid by an international firm that makes chargeable sales in the country but is incapable to acquire a Greek VAT id, or that pays Greek DUTY on local products or services, may be reclaimed through a VAT return.
Requests for value-added taxation refunds are submitted through the applicant’s native country’s tax administration.
