Greece Tax Agency Issues Circular Explaining Tax Treatment of Output VAT Rebates for Pharmaceutical Companies

The Greek Independent Authority for Public Revenue April 12 issued Circular No. E. 2023, explaining the tax treatment of output VAT rebates for pharmaceutical companies. The agency explained that output VAT relating to rebate amounts, which had been deducted from the gross revenues of businesses in previous tax years, are to be refunded in subsequent tax years to reduce the output VAT calculation base. [Greece, Independent Authority for Public Revenue, 04/12/23]

Reference: View Announcement. View Circular No. E. 2023.