Greece Regulatory Round-Up: May 2016 (Part 2)

The Greek Parliament confirms increases to the majority of indirect taxes.

Thought the previous package of tax measures was it for this month?

Not so fast!

On Sunday (22 May) night a new law passed the Greek Parliament which confirms increases in indirect taxes, and postpones the recently-passed withholding tax rate increase on dividends.

From 1 January 2016

Having retroactive effect, the tax rate on gambling companies rises to 35% from 30% regardless of the amount of revenue.

From 1 June 2016

• The standard VAT rate rises to 24% from 23%
• The reduced VAT rates applicable in the islands of: Syros, Thassos, Andros, Tinos, Karpathos, Milos, Skyros, Alonissos, Kea, Antiparos and Sifnos are abolished.