SETE Positions

SETE’s interventions concerning VAT

SETE has highlighted at every opportunity that overtaxation affects the competitiveness of the tourist product, employment rates, investment and, as a result, the whole of the Greek economy.

Referring to Prime Minister Alexis Tsipras’ announcement on (07.05.19) on a series of new relief measures to take effect in 2019-2021, including the reduction of value-added tax (VAT) on restaurants and hotel accommodation, SETE underlined  -through two letters to the Finance Minister, Mr. Euclid Tsakalotos-  that though reduced taxation for accommodation, F&B and energy were in the right direction to ensure competitiveness of the Greek tourism product, they lacked strategic planning failing to include transport and the whole of the F&B product.

SETE recalled that over the last decade, VAT on F&B and transport tripled from 8 percent to 24 percent with adverse effects on the competitiveness of the tourist product.

In conclusion, taxation policy, incentives and relief measures should serve an overall plan of a permanent nature. An integrated national strategy for the future of the country.

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