The Greek Ministry of Finance has announced the signing on 14 December 2020 of a decision to extend the 30% reduction of the standard VAT rates for the islands of Chios, Kos, Leros, Lesbos, and Somos to 30 June 2021. Without the extension, standard VAT rates would have applied from 1 January 2021. The five islands are the last islands eligible for the VAT reduction, which has been phased out for other Greek islands as part of Greece's bailout agreement with the EU and the IMF. Unless a further extension is approved, standard VAT rates will apply for the islands...