VAT in two installments with a 10 euros deposit

VAT installments will finally be two under a legislative regulation prepared by the Greek government, however, a deposit of even 10 euros instead of 40% of the amount currently in force, will suffice.

According to “Ta Nea” newspaper, the law is expected to be included in the bill to meet the prerequisites for the disbursement of the 8.8 billion euro tranches, probably next week in parliament.

This is how the new system will work

According to information, the taxpayer will have to submit a quarterly statement on the 20th of each month, without the obligation to prepay 40% of the tax, by only paying a deposit of 10 euros. But instead of the taxpayer paying the remainder in three installments, the Finance ministry plans to establish the payment in two equal installments. ESEE and GSEBEE have already agreed to this solution.

The initial plans of the Greek government were for the elimination of installments, but eventually and after the reactions a compromise rested on two installments.