VAT earnings soar on holiday islands

Value-added tax takings from the Greek islands posted a significant rise in August, offering state revenues a big peak season boost, according to figures released by the General Secretariat for Public Revenue.

The growth in revenues from resort islands reached up to around 170 percent above the target in some cases, with the biggest increases recorded at popular holiday destinations such as Myconos, Rhodes and Santorini. This means that it was not just tourism entrepreneurs that benefited this August, but the state too.

The data showed that VAT revenues on Myconos beat the target by 170.1 percent, coming to 3.5 million euros against a projected 1.3 million. On Rhodes the main indirect tax fetched 14.9 million euros last month, against a target for 5.6 million, or 165.6 percent over expectations. VAT revenues on Santorini beat the target by 114.4 percent, reaching 3.9...