To Vima — The standard rate will increase to 24%, while the standard reduced rate for islands will increase to 17%
The General Secretariat of Public Revenue has issued a circular according to which the new VAT rates will come into effect on the 1st of June.
According to the circular, the standard VAT rate will increase from 23% to 24%, while on the the six islands that retain the special reduced rate status the standard VAT rate will increase from 16% to 17%.
