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Low VAT On Greek Food Services To Extend Beyond December 2013

greek_taverna1“Maintaining the reduced 13 percent value-added tax (VAT) rate on food services in 2014 is a battle won,” Greek Tourism Minister Olga Kefalogianni told the media on 20 December.

The Greek Government recently submitted legislation that includes the extension of the reduced 13 percent VAT rate on food services beyond a five-month trial period that expires on 31 December 2013. The VAT imposed on restaurants, hotel restaurants, cafeterias and bars in Greece was reduced temporarily from 23 percent to 13 percent as of 1 August 2013.

“This supports the competitiveness of our tourism product and contributes to the further development of the sector, which, as generally accepted, is a key pillar of our economy,” Mrs Kefalogianni said.

The tourism minister underlined that maintaining the VAT at the reduced 13 percent rate would keep market prices at reasonable levels. She urged Greek businessmen to make the best of the low VAT for themselves and for the national economy.

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