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Amendments to the Assessment and Collection of Taxes Law

On 20 August 2020, an amending law was published in the Official Gazette in respect to the Assessment and Collection of Taxes Law, which was followed by a clarifying Circular (Circular 46), published by the Department of Taxation on 28 August 2020. The main provisions of the amending law are highlighted below: Obligation to submit

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Application of the reduced VAT rate from 9% to 5%

VAT UPDATES   The Council of Ministers have issued a new decree (Κ.Δ.Π. 268/2020) dated 23.06.2020, regarding the application of the reduced VAT rate of 5% on hotel accommodation, restaurant and catering and transportation services within the Republic. The reduced VAT rate of 5% will be applicable for the period 1 July 2020 to 10

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Social Insurance and National Health Insurance System Alert

Please see below several changes in respect to the Social Insurance contributions and the National Health Insurance System (NHIS) which are effective in 2020.   Social Insurance Rates 2020 The maximum amount of insurable earnings has increased from previous year to €1.055 per week, €4.572 per month and €54.864 per annum. Contributions to the Social