Greek Prime Minister Kyriakos Mitsotakis used an Economist roundtable forum on Wednesday evening to announce a suspension in the imposition of VAT rates on building licenses, with a retroactive effect dating back to Jan. 1, 20006.
As he said, the measure aims to resuscitate the once dominant construction sector in the country, which after decades of robust growth slumped just before the advent of the economic implosion in Greece, beginning in 2009, and then went mostly dormant in the subsequent decade.
With a preliminary estimate, some 100,000 properties and soon-to-start constructions will be affected.
