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Latest Tax Developments in Greece Impacting Taxpayers


The Greek Parliament voted a new tax bill introducing several changes to the taxation of enterprises and individuals. Taxand Greece highlights the most noteworthy changes, including:

  • Taxation of Income
    • Expanded tax residence definition for individuals
    • Reduction of corporate income tax rate
    • Taxation of profits distributed by Greek companies
    • Taxation of inbound dividends
    • Transactions with entities in non cooperating jurisdictions and in countries with preferential regimes
    • Thin capitalisation rules: Investment firms added to the exceptions
    • Tax deductibility of R&D expenses
    • Filing of withholding tax returns on a monthly basis
  • Taxation of Capital
    • 15% Special Real Estate Tax; Extension of exemptions
    • Re-introduction of inheritance tax exemption
  • VAT
    • Payment of VAT in instalments
    • New rules for the qualification of buildings as "new" for VAT purposes
    • Option for taxation of goods' transportation hubs
    • Implementation of Directives 2009/162/EC and 2009/69/EC
    • VAT liability in case of transfer of allowances to emit greenhouse gases
    • Extension of deadline for submission of VAT refund applications by taxable persons established in other EU Member States
  • Dispute Resolution
    • Increase of amounts payable upon filing a judicial appeal against a tax assessment
    • Changes in applicable caps for penalties
    • New alternative dispute resolution mechanism: Fiscal arbitration
  • Miscellaneous
    • Taxation of sales of listed shares
    • Repatriation of funds held offshore: re-introduction of tax amnesty procedure

Your Taxand contact for further queries is:
Yerassimos C. Yannopoulos
T. +30 210 6967066

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