Greece

Greece VAT rate cut to 22% 2021

September 9th, 2018

The Greek government has committed to reduce its standard VAT rate by 2% from 24% to 22% by 2021. It last raised its VAT rate from 23% to 24% in June 2016. Previously, during the height of the financial crisis, it had increased the rate twice in 2010 from 19% to 23%. The latest announcement comes as …


Worldwide

VAT Reporting v18.7.1

July 27th, 2018

Overview This release is a maintenance release of the VAT Reporting application for the month of July. It includes changes in reporting documents, SII improvements, modifications in VAT Reporting and bug fixes. Rate changes GREZ regions – Leros, Lesbos, Kos, Samos and Chios: The reduction in the three rates for the Greek Islands have been extended until …


Greece

Greek VAT delay blocks €15bn bailout funding

July 13th, 2018

The Greek decision last week to extend the discounted VAT rates till January 2019 on five islands impacted by the refugee crisis has led to a delay in the €15bn last round of bail out funding. Greece has failed to consult with its creditors on the move. The islands are: Lesvos, Chios, Samos, Kos and Leros. …


Greece

Greece live VAT invoice reporting 2019

May 10th, 2018

Greece is to require real-time invoice reporting to the tax authorities. From January 2019, this will be required of all companies related to the public sector, and limited liability companies. It will be extended to all taxpayers from Jan 2020. Sales invoice details will need to be electronically submitted to the Greek tax authorities at the same …


Worldwide

VAT Reporting update 18.3.1

April 5th, 2018

Overview This release is a maintenance release of the VAT Reporting application for the month March. It includes changes to reports, modifications and bug fixes. Main changes in Reports We have improved the reporting of transactions with mixed flows on the PL, CZ and IT VAT Books. South Africa: standard VAT rate changed to 15% …


Worldwide

VAT Reporting update 17.12.1

January 13th, 2018

Overview This release is a maintenance release of the VAT Reporting application for December 2017. It includes new reports for 2017 yearly filings and changes for 2018 and bug fixes. Main changes in Reports The following countries have been released for 2018: CY, LV, NL, SI, CZ, GR (GREZ), FI, AT, DE, EE, HU, LU, …


Greece

Greece extends islands reduced VAT rate

December 26th, 2017

Greece is to extend the application of a 30% discount on its VAT rate for key holiday islands. The reduction will not continue to 30 June 2018 The islands include: Chios; Kos; Leros; Lesbos; and Somos. This is the last group of island to benefit from the tax subsidy, which has been gradually withdrawn following …


Greece

Greece VAT receipt lottery to fight fraud

October 18th, 2017

Greece is to become the latest country to launch a monthly lottery based on VAT compliant receipts in an order to reduce VAT fraud. From the end of October, every VAT receipt will be stamped with a unique number which will be automatically entered into a cash-prize draw organised by the government. Each month, 1,000 …


Worldwide

Avalara VAT Reporting content updates 01-06-2017

June 1st, 2017

Spain – VAT Reporting SII – Now available In this release, we have added the functionality to support the Spanish SII system of “Immediate Supply of Information” which comes into effect from the 1st July 2017. It applies to large companies, VAT Groups and members of the REDEME scheme and the tax authority has a test service …


Greece

Greece EU VAT bail out dispute

December 16th, 2016

Greece announced this week that it would not proceed with a planned VAT raise on certain holiday islands. The austerity measure has been agreed with major debtors of the country as part of a bail out programme stretching back to the Euro crisis. In addition to the VAT increase delay, the government also announced a …