Greece has announced an extension of the 30% reduction of standard VAT rates for the islands of Chios, Kos, Leros, Lesbos, and Somos to 30 June 2019. Without the extension, the standard VAT rates would have applied from 1 January 2019. 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 wi…