SETE Applauds VAT Reduction In Greek Food Services

The president of the Association of Greek Tourism Enterprises (SETE), Andreas Andreadis, said on Wednesday 17 July that the Government’s agreement with the country’s international lenders (the troika) to reduce the VAT on food catering services was “a personal success” of Prime Minister Antonis Samaras.

The Greek PM had announced earlier that the VAT imposed on restaurants, hotel restaurants, cafeterias and bars will be reduced to 13 percent as of 1 August 2013.

Andreas Andreadis, president of SETE.

“It is an essential development measure that will shrink unemployment, bolster tourism and the Greek economy,” Mr. Andreadis said.

SETE’s president said the association would do “everything in its power” to ensure that the VAT reduction would reach customers and that all storeowners would issue receipts.

Mr. Andreadis said he was positive that state revenue would increase from the VAT cut in food services. “When this happens, the Government should consider similar reductions in the whole tourism sector as well as in coastal shipping,” he concluded.