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Restaurant VAT Drops But Not All Greek Businesses Respond

Low_VAT_sticker_Only two out of 10 eateries in Athens and Thessaloniki have dropped their prices and applied for the special blue sticker indicating the VAT reduction to 13 percent from 23 percent.

Prior to the temporary VAT cut on 1 August, it was estimated that almost half of the restaurant and and cafe/bar owners in the country would respond to the government’s call and lower their prices.

But, according to data by the Hellenic Confederation of Professionals, Craftsmen and Merchants (GSEVE), so far only two out of 10 entrepreneurs in Athens and Thessaloniki have altered their price lists.

According to GSEVE, out of the some 70,000 restaurant owners in Greece, only 15,000 have requested to display the special blue sticker on their premises (see photo). This number represents 21.4 percent of the total businesses in the Greek food sector.

The VAT on Greek food services will remain at 13 percent until 31 December.

The government said it would establish the measure permanently if the VAT reduction helps crack down on tax evasion and leads to price reductions on products for consumption.

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