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April 2008 newsletter : latest developments

Greece

The attached newsletter discusses the latest tax law developments in Greece. For further details please contact Yerassimos Yannopoulos at y.yannopoulos@zeya.com Key issues addressed in this edition: Direct Taxation: - Export companies entitled to amortize losses from negative exchange differences in three equal annual installments. - Double Taxation Convention with Russia; entry into force. Indirect Taxation: - VAT treatment of software supplies. - Contradictory positions of the Greek Ministry of Finance and Tax Courts re applicable prescription period of the right for a VAT refund. - Two years following introduction of VAT on the acquisition of new buildings the Greek Ministry of Finance still issues relevant clarifications. - Greek Ministry issues clarifications regarding application of uniform real estate duty.

Taxand's Take

Taxand's Take Author