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Obligation to Accept Payments via Credit Cards

Obligation to Accept Payments via Credit Cards

Obligation to Accept Payments via Credit Cards The Commissioner of Taxation reminds that, according to article 30A of the Assessment and Collection of Taxes Law (N4/1978), businesses included in the annex of the Decree ΚΔΠ 259/2021, (Obliged) and the amending Decree’s...

Further extension of VIES / VAT returns submission deadline

Further extension of VIES / VAT returns submission deadline

The tax department has announced an extension for the submission of VAT returns. The new deadlines are as follows: The deadline for VAT returns covering the period from 01/12/2022 to 28/02/2023 has been extended from 10 April 2023 to 10 May 2023. The deadline for VAT...

Application of the zero rate of VAT to essential goods 

Application of the zero rate of VAT to essential goods 

The Council of Ministers has approved a temporary reduction of the VAT rate for the following products to 0%: bread milk eggs baby food baby diapers products for feminine hygiene protection adult diapers The 0% rate will apply from the day of publication of the decree...

Further extension of VAT returns submission deadline

Further extension of VAT returns submission deadline

The Tax Department has recently announced that the deadline for VAT Return submission for the period of 01/12/2022 – 28/02/2023 has been extended to 10 May 2023. We remain at your disposal for further clarifications.

VAT on Covid-19 goods

VAT on Covid-19 goods

On 31 March 2023, the Commissioner of Taxation issued an alert indicating that the Council of Ministers has enacted a decree prolonging the 0% VAT on Covid-19 goods for the duration of 1 April 2023 to 31 May 2023. The announcement serves to inform the public of this...

How to Calculate Notional Interest Deduction (NID) for Tax Year 2023

How to Calculate Notional Interest Deduction (NID) for Tax Year 2023

On 16 March 2023, the Tax Department published the yields (rates) of the 10-year government bonds as at 31.12.2022 (link here). These rates increased by 5% and serve as the "reference rate" for the calculation of the NID for tax year 2023. The NID is a tax incentive...

Transition from TAXISnet to Tax For All (TFA)

Transition from TAXISnet to Tax For All (TFA)

The Commissioner of Taxation issued an alert on 17 March 2023, informing the public of the commencement of the first stage of the new platform Tax For All (TFA), on 27 March 2023. They inform the public that from 27 March 2023, all VAT liabilities will be processed...