- The company operates a hotel unit and constructs luxury villas on leased land.
- Villas are rented through timeshare agreements for up to 60 years.
- Tenants are foreign legal entities with permanent establishments in Greece.
- Villas are considered tourist accommodations and must be maintained in good condition.
- Annual fees are charged to tenants for property and service maintenance.
- Construction costs are recorded as fixed assets and depreciated.
- Revenue from timeshare agreements is recognized over the lease term.
- Invoices are issued with a 13 percent VAT rate.
- Inquiry about the correct VAT rate for timeshare leases.
Source: taxheaven.gr
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
