Port of Piraeus’ competitiveness boosted after revenues authority eliminates VAT on certain services, goods

The port of Piraeus’ competitiveness edge as a transport hub and cargo handler got a distinct boost this month with a decision by the independent public revenues authority allowing for VAT-free warehouse services and purchase of spare parts for ocean-going vessels docking at Greece’s biggest and busiest port.

In statements to “N” this week, Piraeus chamber officials said the decision by the revenues authority allows major overseas shipping companies to purchase parts and materials from Greece-based suppliers at the port of Piraeus without much of the bureaucratic “red tape” and added costs entailed in the previous “free trade zone” regime.

Storage of cargo emanating from third countries and set for export to European and Asian markets by international shippers is also made easier and cheaper.