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.

8th Mediterranean Yacht Show

Having emerged as one of the premier events for industry professionals, the 8th Mediterranean Yacht Show (MEDYS) turned the international spotlight onto Greece once again, as the host of the world’s largest crewed yacht charter show.

It is worth noting that yachts measuring 24 meters and above in length have the right to participate in the exhibition, making the MEDYS the only sector event of similar scope in Greece that is exclusively addressed to the upper segment of luxury yachting. At this year's Show, 92 yachts with a cumulative LOA of 3.5 kilometers were present, with a waiting list (due to limited space in the port of Nafplion) that surpassed the numbers of every previous year. In order to fully grasp the MEDYS’ size, it is worth considering that the number of participating yachts far exceeded that of comparable shows. Confirming the event's success is, among others, the significantly larger presence of industry professionals from all over the world, with more than 750 participants from 31 countries.

Yachting tourism attracts an increasing number of visitors to Greece and MEDYS is the perfect occasion to highlight the region as one of the top yachting destinations globally. The show owes its success to the large number of registered yachts, the great turn-out of industry professionals from all corners of the globe and the contribution of the local CAs. It is organized each year by GYA under the auspices of the Hellenic Ministry of Tourism and with the kind support of the Municipality of Nafplion.

VISIT MEDYS PAGE