ECONOMY

Hotels hurt by Thomas Cook will not pay stay-over tax

hotels-hurt-by-thomas-cook-will-not-pay-stay-over-tax

The Finance Ministry announced on Tuesday that it has prepared a legislative act for the exemption of all Greek hotels suffering consequences due to the sudden the collapse of UK tour operator Thomas Cook from the so-called “stay-over tax” for the period from September 23 to October 10.

In a statement, the ministry said the exemption concerns the hotel companies that had been working with the tour operator side of the group that went bust last Sunday. It added that this is the first intervention by the government and that “the Finance Ministry, in cooperation with the Tourism Ministry and other competent entities, will proceed to new initiatives when there is a more complete picture of the consequences.”

On Monday the Greek Tourism Confederation (SETE) had said that the financial blow to Greek tourism companies will range between 250 and 500 million euros, calling for immediate government measures.