The Greek government published a draft of the budget bill for 2023 that extends the reduction in VAT rates

The draft for Budget Bill 2023 was submitted and accepted for consideration by the Greek Parliament.  One of the primary goals of the government for 2023 is the acquisition of investment grade debt, which is important for this current period as bonds tend to yield in the eurozone.

In relation to VAT rates, the budget bill for 2023 covers the following topics:

1. The decision to extend the reduced VAT rate until June 30, 2023, for particular product categories.

• The VAT rate in question is VAT for passenger transportation, coffee, catering, cinema tickets, non-alcoholic beverages, tourist packages, gyms, dance centers, and swimming pools, which got reduced in 2021 to 13%.

2. The second measure defined in the draft budget text is to reduce the VAT rate to 6% from 13% for animal foods and fertilizers.