Tourism Businesses Get VAT Refund
The ministry of finance recently announced the immediate return of Value Added Tax paid by tourism businesses (such as travel agencies and hotels) for costs on fixed assets.
According to the ministry, the tax rebate will cover 90 percent of VAT paid while the procedure will be completed in 30 days.
The remaining 10 percent of VAT will be rebated after completion of provisional tax controls.
Meanwhile, Tourism Minister Kostas Markopoulos recently signed a ministerial decision to begin payment of subsidies for the renewal of the country’s tourism bus fleet.