VAT Rate for Timeshare Leases on Luxury Villas by Greek Company

• The company operates a hotel unit and constructs luxury villas on leased land.
• Villas are rented through timeshare agreements for up to 60 years.
• Tenants are foreign legal entities with permanent establishments in Greece.
• Villas are considered tourist accommodations and must be maintained in good condition.
• Annual fees are charged to tenants for property and service maintenance.
• Construction costs are recorded as fixed assets and depreciated.
• Revenue from timeshare agreements is recognized over the lease term.
• Invoices are issued with a 13 percent VAT rate.
• Inquiry about the correct VAT rate for timeshare leases.

Source: taxheaven.gr

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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