Lower VAT on five Greek islands extended until end of 2018

The reduced value-added tax regime for the five islands of the northeastern Aegean most affected by the refugee crisis will apply until the end of the year, according to the announcement published in the government gazette on Saturday.

The favorable tax rates, that will affect the islands of Lesvos, Chios, Samos, Kos and Leros, were due to expire today (June 30).

Prime Minister Alexis Tsipras told journalists after the EU summit in Brussels on Friday he had been given the green light to extend the 30 percent discount on VAT "for as long as the refugee crisis continues," and as long as he is at the helm of the government.