- Greece’s omnibus tax bill includes VAT amendments, Pillar Two, DAC8, and DAC9, with most VAT measures effective upon publication, some retroactively or with carve-outs.
- Reverse charge rules for construction services will be tightened immediately, requiring businesses to reassess contractor/subcontractor arrangements.
- Electricity transmission services will move to a reduced 6% VAT rate, effective either on publication or a specified date, necessitating quick updates to invoicing and tax codes.
- Clarification on volume-based VAT rebates will take immediate effect, increasing scrutiny on timing and accuracy of adjustments.
- Penalties for nil and credit VAT returns and late withholding filings will be reduced or abolished retroactively to April 2024, offering compliance relief but not reducing audit risk.
Source: vatcalc.com
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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