Update - Greek Legislation Amending VAT, Property Tax, and Taxation of Investment Companies and Funds

On 27 May 2016, Greece published in the Official Gazette recently adopted omnibus legislation including, which includes a number of tax changes needed as part of Greece's bailout ({News-2016-05-26/A/4- previous coverage}). Additional details for some of the main changes are as follows:

VAT Changes

The increase in the standard value added tax (VAT) rate from 23% to 24% is effective from 1 June 2016. Any invoices issued on or after that date are subject to the increased rate, regardless of w…