![Extension of Reduced VAT Rates Announced in Greek Tax Legislation](https://www.ot.gr/wp-content/uploads/2023/12/υπουρειο-οικονομικων-2048x1365-1.jpg)
The Greek Ministry of Finance introduced an amendment to the tax bill last night, extending the reduced VAT rates until June 2024.
Among the key changes are:
• Zero VAT rate for specific COVID-19 vaccines continues beyond 31st December 2023.
• The highly reduced VAT rate of 6% effective from January 1, 2024, is extended for specified medical products.
• A reduced VAT rate of 13% remains applicable to the importation of art, collections, or antiquities, the sale of art objects, tickets for zoos, and the provision of services by gyms and dance schools, as long as they are not exempt according to Article 22 of the VAT Code.
• A 6% VAT rate applies to defibrillators, cinema tickets, and specific personal hygiene and protection items.
• The reduced VAT rate of 13% for passenger and luggage transportation also extends beyond December 31, 2023. For taxi services, this rate is applicable until June 30, 2024.
Moreover, the 13% VAT rate remains valid for coffee, cocoa, tea, chamomile, and related beverages.
Furthermore, the amendment covers the complete offset of the VAT tax liability related to electricity consumption services under specific provisions (Articles 143 and 143Α of law 4001/2011) existing before the commencement of the bill.
An automatic cancellation of outstanding debts to the tax administration during the specified period is expanded to include individuals and legal entities affected by the railway accident in Tempi since February 28, 2023.
Additionally, the National Organization for Healthcare Provision’s coverage for medicine and healthcare services for the victims of the Tempi accident is extended.
Lastly, the suspension of the exemption from Special Consumption Tax (SCT) for products sold at duty-free shops outside airports or ports is reinstated until December 31, 2023, as per the defined terms.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight
![ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y](https://www.ot.gr/wp-content/uploads/2023/08/unnamed-41.jpg)
ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y
The same price index had decreased 20.8% from May 2022 to May 2023
![Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated](https://www.ot.gr/wp-content/uploads/2024/06/ergasia-ergazomenos-600x300.jpg)
Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated
Specifically, the option "Subjective opinions are prioritized over objective data" ranked highest in importance for young employees, with a score of 3.89 out of 4
![OECD: Job Vacancies on the Rise in Greece](https://www.ot.gr/wp-content/uploads/2024/07/ergasiabusinness-768x556-1-1-600x434.jpeg)
OECD: Job Vacancies on the Rise in Greece
By the fourth quarter of 2023, job vacancies per unemployed person had risen by more than 4, with the index reaching 446 units compared to 100 units in late 2019
![OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece](https://www.ot.gr/wp-content/uploads/2024/05/ΟΤΕ-Group_1-600x450.jpg)
OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece
This initiative will provide ultra-fast internet speeds of up to 1Gbps to over 350,000 households and businesses in semi-urban and rural areas across the country
![DESFA: Domestic Natural Gas Consumption Up 29.76% in 1st Half of 2024](https://www.ot.gr/wp-content/uploads/2022/08/desfa-1-600x370.jpg)
DESFA: Domestic Natural Gas Consumption Up 29.76% in 1st Half of 2024
However, overall demand for natural gas saw a slight decline of 7.14%, primarily due to reduced exports
![ELSTAT: Greek Merchant Fleet Tonnage Falls 3.5% y-o-y in May 2024](https://www.ot.gr/wp-content/uploads/2024/02/ships-600x400.jpg)
ELSTAT: Greek Merchant Fleet Tonnage Falls 3.5% y-o-y in May 2024
The drop in gross tonnage is for vessels 100 GRT and over, and is a continuation of the overall downward trend since January 2022
![Real Estate Trends: Greek Buyers Prefer Smaller Properties](https://www.ot.gr/wp-content/uploads/2024/04/ot_akinhta_greece2-600x352.png)
Real Estate Trends: Greek Buyers Prefer Smaller Properties
Specifically, in the nationwide survey, 24.9% of buyers opted for properties between 51 and 75 square meters, while 24.7% chose smaller properties up to 50 square meters