VAT changes in Greece

Dear Colleagues,

This is to advise you on the latest tax measures that were introduced by the Greek Government.

A new VAT rate of 24% instead of 23% has been announced for Greece and will effect all charters starting from June 1st 2016 onwards as follows:

A. Charter duration of 3 days or more

Category I, vessels entitled to perform International cruises have a discount of 60%, therefore the applicable VAT rate is 9,6% (instead of the previous 9,2%).

Category II, vessels entitled to perform Long Range cruises within Greek waters have a discount of 50%, therefore the applicable VAT rate is 12% (instead of the previous 11,5%).

B. Charter duration up to 48 hours

There is no discount for cruises up to 48 hours, regardless of a vessel’s’ category, therefore full VAT of 24% is due (instead of the previous 23%).

It is to our firm belief that this information will be of good use allowing you to proceed accordingly with no inconvenience caused whatsoever.