VAT Greece Guide
Read our guide and find out everything you need to know about VAT in Greece, from registration to filing, and more.
If you have plans to expand your business into Greece, whether you’re an EU or non-EU business, you will need to have a clear understanding of the country’s VAT system. To help, we have put together this guide to make VAT in Greece clearer.
What is the Greek VAT rate?
In Greece, VAT (Value Added Tax) is known as FPA (Fóros Prastithémenes Axías). The standard Greek VAT rate is 24%, with reduced rates of 13% and 6%, and also a 0% rate.
Registering for VAT in Greece
Greece has no minimum VAT registration threshold for companies operating in the country, whether they are residents or non-residents.
As of July 1, 2021, if a business’s annual turnover for cross-border trade with an EU country surpasses €10,000, it becomes liable for VAT in that country. Therefore, any business that exceeds this distance selling threshold in Greece will have to register for VAT. This VAT liability also exists if you store products in Greece or take part in an FBA (Fulfilled-by-Akmazon) program involving Greece.
To register for VAT and receive a Greek VAT number, an application should be filed at the Greek tax office. This can be done online or in person. The entire process normally takes no more than two to three weeks.
Fiscal representative in Greece
For non-EU businesses operating in Greece, the appointment of a fiscal representative is mandatory. This representative shares the VAT liability in Greece with the business.
Greek VAT return filing and penalties
Greek VAT returns are typically filed quarterly. However, for businesses whose annual turnover exceeds €1,500,000, monthly filings are required.
There is no mandatory annual VAT return in Greece. All VAT returns should be filed electronically via TAXISnet.
VAT return filings are due by the last day of the month following the relevant reporting period. The VAT payment deadline is the same day.
The penalty for late filing is a fine of between €100 and €500 per declaration, while misdeclarations will incur a fine of 50% of any VAT due. Late payment will result in 0.73% interest of the VAT due each month of delay.
Greek Intrastat declarations
Both resident and non-resident businesses in Greece must submit Intrastat declarations. The annual threshold for an Intrastat return in Greece is €150,000 for arrivals and €90,000 for dispatches. The deadline for Intrastat reports is the 26th of the month following the relevant reporting period. Late submissions may result in fines.
Reverse charge in Greece
In Greece, the reverse charge mechanism applies to cross-border B2B supplies and certain domestic goods and services. The customer declares both the input VAT and output VAT on their own VAT return, effectively nullifying the VAT liability for the supplying entity. In such scenarios, the foreign supplier does not need to register for VAT in Greece.