Con­di­tions set for VAT re­bate ac­cel­er­a­tion

Kathimerini English - - Focus - PROKOPIS HATZINIKOLAOU

The In­de­pen­dent Au­thor­ity for Public Rev­enue is adopt­ing faster pro­ce­dures for the re­turn of val­ueadded tax within the le­gal pe­riod of 90 days, fol­low­ing a de­ci­sion signed by the au­thor­ity’s chief, Gior­gos Pit­silis.

The de­ci­sion con­cerns spe­cific en­ter­prises that due to their ac­tiv­ity (ex­ports) sys­tem­at­i­cally gen­er­ate VAT re­bate amounts or con­duct trans­ac­tions that do not in­cur VAT in at least 50 per­cent of their ac­tiv­ity. A se­ries of con­di­tions is also set re­lated to the tax con­duct of en­ter­prises.

Com­pa­nies there­fore have to be in­spected for at least three fi­nan­cial years and the sum of their VAT re­bates – fol­low­ing the in­spec­tions – should not be any more than 5 per­cent more than the re­bate de­manded. Firms must also have com­mit­ted no tax or cus­toms vi­o­la­tions.

IAPR fig­ures show that the re­bate de­mands by 6,568 en­ter­prises amount to more than 890 mil­lion eu­ros, with the av­er­age wait­ing time for pay­ment com­ing close to 12 months.

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