Important announcement about VAT rate increase

IMPORTANT ANNOUNCEMENT

Dear Associates,

Due to the Greek Government's emergency decision to increase the rate of VAT from 15th March 2010, we would like to inform you of the following:

The vat rate on books will increase from 4.5% to 5% and that on multimedia products from 19% to 21%. Therefore, there will be a minimal increase in the prices shown on our promotion material (written and /or electronic).

However, the prices quoted on our company's pricelist, which is available on our website in PDF format, are inclusive of the new VAT rates and are not subject to change.  

We would like to apologise for any confusion this may cause and hope that you understand our position as, for obvious reasons, our promotional material was prepared and printed (tens of thousands of copies) prior to the announcement of the Government's decision.

If you have any questions or require further information, please do not hesitate to contact us.