SETE: VAT Cut On Restaurants Would Bolster Greek Tourism Sector

A VAT reduction on Greek food catering services (restaurants, hotel restaurants, cafeterias, etc.) would be “a very positive outcome for the tourism development of the country,” the president of the Association of Greek Tourism Enterprises, Andreas Andreadis, said Tuesday, 9 July.

According to reports, the possibility of reducing the VAT charged on food catering services from 23 to 13 percent will be discussed between the Greek Government and the country’s international lenders over the next 10 days.

If agreed, the measure will be implemented as of 1 August.

SETE’s president underlined that reducing the VAT to the levels of Greece’s competitors is an essential measure of development.

“This, along with the implementation of the strategic plan, will establish the foundation for further dynamic growth in investment and tourism revenue in the coming years,” he said.

Mr. Andraedis said the aim is for the VAT reduction to be passed on directly to the final consumer and all tax revenue to be collected by the State.

“Once financial conditions permit it, corresponding reductions must be made to the whole tourism package as well as in shipping,” he added.