The Complete VAT Guide for Greek Businesses
Introduction
VAT is not complicated in theory, but it is unforgiving in practice. A missed rate, a misfiled receipt or a late submission can cost more than a month's profit. This guide covers what every Greek business owner should know about VAT — and how to keep it stress-free.
Table of contents
- The rates you actually need to know
- Input vs output VAT
- Non-deductible VAT you should watch for
- Reporting cadence
- Common mistakes that cost real money
- Frequently asked questions
- Conclusion
The rates you actually need to know
Standard rate: 24%
Applies to most goods and services.
Reduced rate: 13%
Basic foods, certain agricultural products, some medical services.
Super-reduced rate: 6%
Books, newspapers, electricity, medicines.
Island discounts
Certain Aegean islands have reduced rates. Verify per case.
Input vs output VAT
Output VAT
VAT you charge customers on your invoices.
Input VAT
VAT you pay suppliers, which is generally deductible.
Net position
Output minus input. Positive means you owe the state; negative means the state owes you (usually offset next quarter).
Non-deductible VAT you should watch for
Passenger cars
VAT on private-use passenger vehicles is generally not deductible.
Business entertainment
Meals and gifts have strict limits.
Personal expenses
Anything unrelated to business is off-limits.
Reporting cadence
Quarterly for most SMEs
The default for small businesses using simplified books.
Monthly for larger operations
Businesses above certain turnover thresholds file monthly.
Deadlines matter
Late filing triggers escalating fines — set calendar reminders.
Common mistakes that cost real money
Charging the wrong rate
Especially on services that overlap goods (e.g. installation).
Missing supplier invoices
Every missed invoice is deductible VAT left on the table.
Applying VAT to VAT-exempt transactions
Fines double when the mistake is repeated across quarters.
Frequently asked questions
Can I claim VAT on a receipt without my AFM printed on it?
Small-value receipts (below thresholds) can qualify, but for meaningful amounts insist on a proper invoice with AFM.
What happens if I file VAT one day late?
Even one day triggers a fine; automate reminders and file a few days early.
Does Ledger Monkey submit VAT for me?
Ledger Monkey prepares clean reports and exports; the actual submission happens through myDATA or your accountant.
Conclusion
Modern financial management is about pushing the boring work to software so the interesting work — the decisions only you can make — gets your full attention. Every article on this blog points to that same idea, and Ledger Monkey is the tool built around it.
Ready to see it for yourself?
You do not need a consultant, an accountant or a spreadsheet upgrade to feel the difference. Start your free trial today. Scan five receipts, connect one supplier, and let Ledger Monkey show you where the money actually goes.