Greece proposes a new domestic reverse charge mechanism to prevent VAT fraud on construction services

1 May 2024

During April, Greece’s Ministry of Finance put forward a proposal to introduce a domestic reverse charge on the sale of constructions services in the country. If implemented, the new mechanism will mean that businesses involved in making these types of supplies will no longer have to charge VAT to business customers. Instead, it will be the customers’ responsibility to account for the VAT in their own returns. This removes the need to make cash payments in relation to the VAT element of the transaction, which is often prevalent to fraud.

Greece already operates the domestic reverse charge on a range of VAT fraud-sensitive sectors, including:

  • mobile phones, laptops
  • electricity
  • certain scrap materials
  • carbon trading certificates

Are you trading globally? Whether you require basic VAT advice or specific VAT compliance support, Fiscal Solutions can help. Our team of multi-lingual experts are knowledgeable in all the different VAT rules in Europe and around the world.

We help you simplify today’s complexities and address tomorrow’s challenges. The values we represent, and our consistent advice, mean you can trust Fiscal Solutions to do the right thing – for you and your organisation.

Get in touch

Let us solve your current business VAT challenges

Contact us
LATEST NEWS

B2C sellers and marketplaces to charge VAT at checkout...

Chile is proposing to extend its VAT system to impose VAT on low-value consignments of goods being imported directly by consumers.  Currently, there is an...

SEE MORE
VAT news
LATEST NEWS

Finland confirms standard VAT rate rise to 25.5%

The Finnish government has confirmed that its standard VAT rate will increase from 24% to 25.5% and is expected to come into effect sometime in 2024.  This...

SEE MORE
VAT news
LATEST NEWS

Swiss government considers increasing the standard VAT...

The Swiss tax authorities are proposing a further increase to the standard VAT rate in the country from 8.1% to 8.5%.  This proposal is being put forward to...

SEE MORE
VAT news

Gated Content

The following email providers are not accepted: gmail, hotmail, yahoo. Please use proper company email.