VAT Updates

Withdrawal of the requirement to make VAT prepayments for certain categories of businesses

Further to our recent update on the enactment of Decree ΚΔΠ 145/2020 for the requirement of certain categories of businesses to make advanced VAT payments, the Ministry of Finance has issued an announcement declaring that the Decree will not be brought into effect.

As a result, the requirement for down payment of 30% of VAT due prescribed by the aforementioned Decree has been withdrawn.

In case of any further developments on this matter, separate announcements will be issued at a later stage by the Ministry of Finance.