Greek VAT Hike June 20 2015

euroBreaking News of a full implementation of the VAT rates demanded by Europe indicates a general rise to 23% for just about everything, including food, in Greece. In real terms this means prices rises of around 9%

Out on the islands, the VAT increases are not expected until the autumn, presumably until after the holiday season.

How Crete will be affected is to been seen .. watch this space

Greece will implement changes to value added tax from Monday, the finance ministry said, … with VAT hikes due on food served at restaurants and on public transport [including taxis].

“We will go ahead with the necessary actions so that the implementation of the new provisions can begin from Monday July 20,” the ministry said in a statement.

Changes to VAT have already sparked concerns from businesses worried that increases will drive away customers and cut sales ..

Source: Reuters