Greek Finance Minister Yanis Varoufakis promised to Alternate Minister for Tourism Elena Kountoura that VAT rates will not change in the current tourist season, said a Tourism Ministry announcement on Thursday. “Any change occurs in the tourist package in the future will be designed so that Greece can remain competitive in the tourism sector,” Varoufakis underlined. Any speculations over VAT rates while negotiations are underway hurt tourism and Greece’s image, according to the Tourism Ministry announcement. The Greek government plans radical changes in the VAT system with the introduction of a single VAT rate of 15% for transactions using credit or debit cards and 18% for cash transactions, along with maintaining a low VAT rate of 6.5% for drugs and other first priority items. (Source: ANA-MPA)
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