The president of the Greek Tourism Confederation (SETE), Andreas Andreadis, on Tuesday underlined the vital need for Greece’s government to immediately implement a series of measures to safeguard and further strengthen the country’s tourism industry.
Speaking during SETE’s 14th Tourism & Development Conference, Mr Andreadis stressed the need for the value-added tax on tourism to be reduced to the more competitive levels of 8 to 10 percent and for the state to intensify checks in order to induce tax compliance and raise the collected VAT revenue.
According to SETE’s president, should the VAT on tourism be reduced, the difference can be covered if the government applies taxes on “sharing economy” activities, collects VAT and imposes fines on illegal tourism accommodation and enforces the mandatory use of credit cards for transactions.
Mr Andreadis stressed that the Greek tourism sector will not be sustainable after 2016 if the VAT rates remain at current levels.
More into his speech, he noted that as long as Greece has no stable tax framework, the lack of investor interest in the country will continue.
In regards to the forthcoming recapitalization of banks, SETE’s president said that the process should not stand in the way of Greek entrepreneurship, especially in the tourism sector.