VAT in Greece

Greece is a member of the European Union (EU) and draws up its tax rules according to the laws or directives issued from Brussels by the EU. The current VAT directive applies to all 27 member states of the European Union, and it governs the rules on VAT compliance, and in some part, covers the setting of VAT rates.

As an EU member state, Greece is obliged to implement the VAT directives, which provides guidance on VAT. Where there is a conflict, the European Union’s directive takes precedence. Greece is a member of the European single market economy and uses the Euro (€) as its currency.

VAT registration in Greece

Both EU and non-EU businesses may trade in Greece without establishing a local presence. This is known as non-resident VAT trading. There is no VAT threshold in Greece for the registration of non-resident traders, but you will need one to record transactions and your Greek customers will want proof that you have obtained one.

There are strict rules on the situations where VAT registration is permitted. Common scenarios that require Greek VAT registration include:

• Importing goods into Greece;
• Organising live events, conferences, etc. in Greece;
• Holding goods in a warehouse in Greece as stock for resale;
• Buying goods within Greece that are subsequently re-sold in-country;
• Selling goods from Greece to other EU member states;
• Distance-selling to private individuals in Greece, e.g. internet retailing or trading through an e-commerce platform.

Registering for VAT in Greece generally can take up to a month once all documentation has been submitted to the tax authority, but this varies from seller to seller and will depend on the specifics of an individual company.

Geeek VAT compliance

There are detailed rules controlling the recording and processing of Greek transactions for VAT purposes. This includes guidelines on:

• Greek invoice requirements;
• When to issue a Greek tax invoice;
• Foreign currency reporting;
• Credit notes and corrections;
• Correcting entries from prior returns;
• Which accounting records must be maintained.

Greek VAT rates