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Greek Ministry of Finance releases draft guidelines on tax payments
A new rule has recently been adopted in Greece, imposing significant restrictions on the tax deductibility of payments made to preferential tax regimes, non-cooperative tax jurisdictions. Taxand Greece highlights the draft decisions.
The new rule has triggered significant turmoil in the market, mostly due to the significant cash flow impact, as well as the strong indication of a potential violation of EU legislation.
On 23 April 2015, the Greek Ministry of Finance released a draft of the highly anticipated decision, requesting comments from the market.
It is proposed for the decision to apply in relation to invoices issued after 1 September 2015.
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