Greek households are one of the most burdened in Europe, a Tax Foundation study on VAT rates has cited in a report.
According to the report, Greece is in the 1st spot in the Eurozone, with a 24% base rate, along with Finland. Compared to all EU members, Greece ranks fifth.
The EU countries with the highest VAT rates are Hungary (27%), and Croatia, Denmark, and Sweden (25%).
Luxembourg imposes the lowest VAT rate (17%) followed by Malta (18%), Cyprus, Germany, and Romania (19%).
The EU average VAT rate is 21%, six points higher than the minimum VAT rate required by EU official regulation.
According to the European Commission, the increase in VAT rates in previous years has deepened the revenue gap. About 6 billion euros are lost in Greece each year due to the non-payment of VAT.
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
Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: Andrikkos
