IN THE PRESS

High VAT harms competitiveness of Greek coastal shipping

Greek online media Ekathimerini writes that, when comparing Greece with other EU countries, the VAT rate on ferry tickets is one of the highest. The article is based on a study titled “The Contribution of Passenger Shipping to the Greek Economy” which has been published by the Foundation for Economic and Industrial Research (IOBE). The authors believe that the reduction of VAT on ferry tickets would give the Greek islands an economic boost without provoking a negative fiscal impact.