Summary
- AADE Circular E.2031/2026 of 26 June 2026 overturns Circulars E.2066/2023 and E.2068/2023: settlement payments under CFDs are outside the scope of VAT — no longer taxable at 24% and no longer analysed as exempt under Art. 27 of the Greek VAT Code.
- The change applies the reasoning of the EU VAT Committee (125th meeting, 18 November 2024) on two-way CFDs to ordinary CFDs by analogy: mutual payments depend on random price movements, so there is no direct link and no supply for consideration under Art. 2(1)(c) of the VAT Directive.
- The Circular also confirms no digital transaction levy applies, and no stamp duty is sought for periods up to the levy’s abolition on 30 November 2024.
Sources
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