Tourism-related taxes set to be slashed

Tourism-related taxes set to be slashed

The reduction of value-added tax and a review of the so-called “stayover” levy are a strategic priority for the new government in its bid to boost the competitiveness of the Greek tourism product.

According to the action plan presented by Prime Minister Kyriakos Mitsotakis to his ministers at their first cabinet meeting in Athens on Wednesday, the Tourism Ministry’s priorities lie in “strong growth with more investments and new and better jobs”.

The priorities listed for tourism include an immediate cut to the VAT rate for the entire tourism package from 24 percent to 13 percent, with a final target of 11 percent, the review of the stayover levy, the acceleration of all mature investment plans for tourism accommodation and incentives for energy upgrades to tourism units.

Other objectives concern the modernization of the structure and operation of the Greek National Tourism Organization (GNTO), cooperation with the private sector for more effective promotion of the country’s profile, highlighting of alternative forms of tourism (health, conference, city breaks, cultural tourism, etc) and the attraction of pensioners from fellow European Union states, following the example of Portugal, Malta and Cyprus.

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