Proposed extension of VAT reduction for catering, transport, gyms, cinemas and theatres

28/04/2022

Greece

The extension of the reduced VAT rate for catering, transport, gyms, cinemas and theatres is due to expire in June 2022. However, the Greek government has proposed that this be extended. A precise date has not yet been confirmed.

However, the costs of such an extension have been laid bare- to accommodate the extension, the Greek government will need look at other areas of the budget to make up the shortfall, amounting to around 250 – 300 million Euros.

Such figures offer an insight into the often-drastic financial costs governments are incurring in their fiscal-related measures, and the ramifications on budget planning.