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Greece

Last reviewed on 03/2016

News & Tips

VAT representative - EU companies [Tip]

Companies established in the EU have the option of directly registering for VAT in Greece and obtaining a Greek VAT number without having to appoint a local VAT representative. This option [non appointement of a fiscal representative] has been introduced in 2013 on the basis of a decision taken by the Ministry of Finance [POL 1113/2013].


Payment of VAT [Tip]

VAT should be paid by filing the deadline of the VAT return. However, by virtue of a legislative act, taxpayers are given the right to pay the debit VAT balance due in three instalments as follows: a minimum payment of 30% of the VAT liability arising on the VAT return at the time of filing and payment of the remaining VAT amount due in two equal monthly instalments. These remaining instalments are due by the 20th day of the following months.


Postponed import VAT accounting – New thresholds [News]

To benefit from postponed import VAT accounting, companies must meet certain criteria. The most important one is the realization of imports with a statistical value of at least €300 million on an annual basis. A reduced threshold of €120 million applies for the first five years of application of the scheme. A new law provides for a reduction of the aforementioned annual thresholds to respectively €250 million and €100 million for the first five years.

More VAT News & Tips in Greece

DOING BUSINESS IN GREECE [EL] - VAT GUIDE

 

General

VAT Directive

Greece

What is the structure of the VAT number?

Each individual VAT identification number shall have a prefix in accordance with ISO code 3166 - alpha 2 - by which the Member State may be identified.

 

Greek VAT numbers have 11 characters [EL + 9 digits].

 

What is the local name of the tax?

 

Foros Prostithemenis Axias [FPA]

 

VAT rate

VAT Directive

Greece

 VAT rates

Member States must apply a standard VAT rate [not lower than 15%] which must be the same for the supply of goods and for the supply of services.

Member States may apply either one or two reduced rates [not lower than 5%] only to supplies of goods or services as listed in the Annex III of the VAT Directive.

 

Greece applies a standard VAT rate of 24% [01/06/2016] and two reduced VAT rates: 6,5% and 13%.

 

See VAT rates applied in the EU.  

VAT return

VAT Directive

Greece

How is the tax period determined? 

The tax period shall be set by each Member State at one month, two months or three months.

Member States may, however, set different tax periods provided those ones do not exceed one year. 

 

Quarterly

Your company has to report its VAT position by filing periodical VAT returns on a quarterly basis [standard tax period].

No other tax periods exist in Greece for foreign taxpayers.

When should periodical VAT return be filed?

The VAT return shall be submitted by a deadline to be determined by Member States.

That deadline may not be more than two months after the end of each tax period.

 

As from 01/04/2014: Periodical VAT returns must be filed before the last day of the month following the tax period [month/quarter] to which it relates

Statement

VAT Directive

Greece

Annual recapitulative statement

Is this requirement laid down in the country and what is the filing deadline?

Member State may require taxable persons to submit a return in respect to all transactions carried out in the preceding year.

That return shall provide all the information necessary for any adjustments.

 

Abolished on 01/01/2014

Recapitulative statement of intra-EU supply of goods [European Sales Listing - ESL]

Are quarterly filings allowed by the country and what is the filing deadline?

The recapitulative statement shall be drawn up for each calendar month.

However, Member States, in accordance with the conditions and limits which they may lay down, may allow taxable persons to submit the recapitulative statement on each calendar quarter where the total quarterly amount of intra-EU supplies of goods does not exceed either in respect of the quarter concerned or of any of the previous four quarters the sum of € 50.000 or its equivalent in national currency.

The recapitulative statement shall be submitted within a period not exceeding one month.

 

The recapitulative statement [ESL] must be drawn up for each calendar month. ESL should be filed by electronic means by the 26th day of the month after the end of the reporting period [month]. Filing the statement on a quarterly basis is not possible.

Payment

VAT Directive

Greece

What is the payment deadline?

Any taxable person liable for the payment of the VAT must pay the net amount of the VAT when submitting the VAT return. 

Member States may, however, set a different date for payment of that amount.

 

 

The VAT due should be paid by filing deadline for the VAT return - no later than the last day of the month after the end of the tax period [month/quarter] to which it relates.

Are interim payments required?

Member States may require interim payment to be made.

Interim payments are not required in Greece.

 

VAT refund

VAT Directive

Greece

VAT refund for companies VAT registered in the country.

Is any VAT credit automatically carried forward or refunded?

Where, for a given tax period, the amount of deductions exceeds the amount of VAT due, the Member States may, in accordance with conditions which they shall determine, either make a refund or carry the excess forward to the following period. However, Member States may refuse to refund or carry forward if the amount of excess is insignificant.

 

A VAT credit is in principle automatically carried forward to the next period unless a tax refund has been applied for. VAT credit can be refunded yearly, quarterly or monthly under conditions. In three years in all other cases.

Special measures for foreign companies

VAT Directive

Greece

Optional reverse charge [art. 194 of the VAT Directive] for non-resident supplier.

SUPPLY OF GOODS

Member States in which the VAT is due may provide that the person liable for the payment of VAT is the person to whom the goods or services are supplied where the transaction is carried out by a taxable person who is not established in the country in which the VAT is due.

No

No reverse charge mechanism is applicable in Greece.

Optional reverse charge [art. 194 of the VAT Directive] for non-resident provider. 

SUPPLY OF SERVICES

Member States in which the VAT is due may provide that the person liable for the payment of VAT is the person to whom the goods or services are supplied where the transaction is carried out by a taxable person who is not established in the country in which the VAT is due.

No

No reverse charge mechanism is applicable in Greece.

Have simplification measures been taken to avoid registration of the foreign company for the goods held on consignment in the country?

 

No

Greece has not implemented a simplification system for consignment stock.

Foreign taxpayers are therefore required to be VAT registered in Greece.

 

Do special arrangements apply to "call-off-stock"?

 

No

Greece has not implemented a simplification system for call-off-stock.

Foreign taxpayers are therefore required to be VAT registered in Greece.

 

 

Triangulation can be applied when the middleman (B) is VAT registered [as a non-established company] for others supplies in the 3rd country [Member State of destination]?  

No

 

VAT on import

VAT Directive

Greece

VAT warehousing regime

Member States may exempt the importation of goods and the supply of goods which are intended to be placed under warehousing arrangements other than customs warehousing.

 

Greece has introduced VAT warehousing regime applicable under specific conditions.

VAT on importation – Postponed accounting via the VAT return.

Is it possible for a company to pay the import VAT via the periodical VAT return?

Member States may provide that VAT on importation does not need to be paid at the time of importation on condition that it is entered as such in the VAT return  to be submitted.

 

Postponed accounting via the VAT return is possible. A deferred payment for VAT and customs [similar delay] is also possible under specific conditions.

 

Miscellaneous

VAT Directive

Greece

Intrastat Threshold  

Dispatches: € 90,000

Arrivals : € 150,000 

Distance Sales - Threshold  

 € 35,000

See various thresholds applied in the EU

 

Ministry of Finance   website

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