ECONOMY

State owes hoteliers badly needed money

Hotels in Greece are facing financial troubles, not just because of the global financial crisis but also as a result of the negligence of the state in paying its dues to them. The Panhellenic Hoteliers Association argues that these factors along with the negative provisional estimates regarding the number of holidaymakers expected to visit the country this year are creating particularly poor prospects for the sector in 2010. The association suggests that the tax authorities have not distributed to hoteliers the value-added tax returns that were due according to the investment incentives law, while a number of hotels have not yet received the amount of money owed by the Greek National Tourism Organization for their participation in subsidized social tourism programs.