Are you looking for an escape from the cold and rainy UK? Greece has plenty to offer visitors—fantastic culture, pleasant climate, amazing cuisine, and some of the friendliest people in the region! It's no surprise that many British have fallen in love with the country and have chosen to visit more than once.
Shopping in Greece is also a very pleasant experience. It is an all-day activity. While you are in Greece, forget about the big chain stores! The charm of shopping in Greece lies in a wide range of small shops that offer unique crafts, fashion items, and homewares—some of which might be the only ones in the world.
However, VAT in Greece can be as high as 24%! That's a lot of money, and you may end up pouring money down the drain. But don't worry! Greece’s VAT tax system supports non-EU residents, including the British, in claiming back the VAT paid on goods! This guide will help you navigate the process and get the most out of your VAT refund in Greece.
How much is VAT in Greece?
The European Union sets a standard rate for its members: the rate cannot be lower than 15%. Therefore, as an active member, Greece also follows this rule, using the standard rate of 24% applied to the supply of most goods and services. Moreover, the country also sets two reduced rates: if you purchase goods in certain categories, you will be charged these rates.
You can refer to the table below for a quick check1:
| Tier | Rate | Category |
|---|---|---|
| The super-reduced rate | 6% |
|
| The reduced rate | 13% |
|
| The standard rate | 24% |
|
You might also be able to pay less tax! If you are travelling to Leros, Lesbos, Kos, Samos and Chios, your VAT in Greece might be set at 17%, 9% and 4%, respectively.
How much VAT is refunded in Greece?
The amount you get back varies, depending on which tier you are in. However, it is good to know that you will only get part of the amount back. This is because you will likely need to use a VAT refund agent to claim back your tax. Your agent will take some portion of your refund as a commission. Moreover, if the denominated currency of the card (e.g., GBP) is different from the local currency (e.g., EUR), it may be converted automatically. You will need to pay extra for currency conversion.
But rest assured! This article will guide you through saving more using a Wise debit card. More on that later!
Who is eligible for tax free shopping in Greece?
You are eligible for VAT Tax refund in Greece if you meet these conditions:2
- You are a resident outside of the EU, including UK residents of England, Wales and Scotland;
- The total value on the invoice is at least €50, including VAT;
- You will take the products with you in your personal luggage within three months after the end of the month in which you made the purchase.
How to get VAT refund in Greece?
If you meet all the eligibility criteria mentioned above, it's time to proceed with claiming back your VAT. The main way for individuals to get VAT refunds before leaving Greece for a non-EU country is by using a VAT refund agent.
But there are several steps you need to finish before you can claim back your VAT refund in Greece from the tax refund agent.
Receive a tax exemption form
The process to get a VAT refund begins as soon as you make your first purchase in Greece. If you wish to receive a VAT refund, you should present your passport and request the staff at the store to return the tax-free form. After you purchase your goods, ask them for the receipt or invoices of the goods!
One important note: Not all shops participate in the VAT refund scheme, so you should look for a Tax-free shopping sign before making any purchase.
Ensure that you carefully keep all the documents, including the complete invoice, for the tax refund process at the airport. Any missing documents will result in the tax refund being denied.
Have the forms validated
When you arrive at the airport, present your passport, original purchase invoice, tax refund declaration form, and the items you purchased at Customs for inspection and stamping of the tax refund confirmation.
Obtain a VAT refund
Now, you can head to the tax agent to receive your VAT refund. Typically, VAT agents in Greece have more than one payment method. You can receive a refund in cash, via credit card, bank transfer, or e-wallet.3
This article outlines the simple steps to get your VAT refund before leaving Greece. From obtaining your tax exemption form to having it stamped to finally receiving your refund, the process is rather straightforward. But here's the exciting part - you can save even more! By using a Wise debit card, you can receive your refund conversion fee-free if no currency conversion is involved. Or, even if a currency conversion arises, Wise only charges a small fee and converts at mid-market rates without markups. This card allows you to hold 40+ currencies, including EUR. With a Wise debit card, you can look forward to more savings for your next adventure. That's something to get excited about!
Please also be aware that tax rates and regulations may change over time. Always verify the information with official sources for the most accurate and up-to-date guidance.
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Sources used for this article:
Sources last checked on 11-Jun-2024.
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