March 15, 2013

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Can Greece Turn Into a Transit Trade Hub?

The Greek Finance Ministry recently introduced a measure facilitating foreign companies to import goods in Greece, with the purpose of re-exporting them to other EU or third countries. The new measure provides for value added tax (VAT) on imported goods not being paid at customs offices, but at destination points on arrival, after transiting through Greece.

Similar transit hubs operate in other countries such as France and Holland.

These importers would not be based or be subject to taxation in Greece, but the annual value of imports should be at least 300 million Euros.
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