Hotels in Greece are subject to the second highest business tax rates, compared to the sector’s direct competitors in the wider geographical region, with accommodation units in France only subject to higher burdens.
The conclusion comes from a study carried out by Grant Thornton, which was commissioned by Greece’s relevant hotels chamber.
Another highlight of the specific study holds that the average margin for profits by hotels in Greece, after taxes, hovers at a meager 1.52 percent.
According to the chamber, the study was commissioned in a bid to exhibit what the former calls the “unequal tax treatment” of the hospitality sector in Greece, compared to other national competitors, such as Turkey, Croatia, Cyprus, Italy and others.
The study identifies 10 specific direct tax burdens, as well as indirect tax levies (VAT, for instance), a framework, according to the chamber, that negatively influences the sector’s competitiveness. Other burdens faced by hoteliers are high municipal rates and a soon-to-be-imposed overnight stay surcharge – one of several austerity measures passed last year by the coalition government to meet memorandum-mandated fiscal targets.
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RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
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Source: naftemporiki.gr
