Taxand Greece investigates new administrative guidelines on the VAT exemption of goods placed in free zones.
On 3 March 2016, the Greek Ministry of Finance published new guidelines in relation to the VAT exemption of goods placed in Free Zones and the formalities to be fulfilled for the respective purposes.
More specifically, as clarified through the above guidelines, the relevant VAT exemption covers:
In all the aforementioned cases, VAT becomes due upon exit of the goods from the Free Zone, to the extent such goods are being released for free circulation in Greece. On the other hand, no VAT will be due in case of export or intra-Community supply of the goods.