ECONOMY

European tour operators: No to VAT hike

The European Travel Agents’ and Tour Operators’ Associations (ECTAA) on Thursday expressed disagreement with a proposed increase in Greece’s value-added tax on tourism services and called on the political leaders in charge of the negotiations – especially the government, eurozone finance ministers and the IMF – to come to a final agreement, including a decision on VAT adjustment.

The ECTAA statement added that any changes in the VAT system should be implemented with sufficient warning to allow for their incorporation into the prices agreed among tourism enterprises.

They should also be implemented gradually, it noted, as a sudden drastic hike would be impossible for the tourism industry to absorb and would thus be rolled over to tourists, who are particularly sensitive as regards service prices.

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