Law 4446/2016, gazetted on 22 December 2016, introduces a number of changes in the field of taxation, along with a new voluntary disclosure programme. Taxand Greece presents a summary of the new tax rules in their recent newsletter.
Taxation of income
E-payments as a prerequisite for income tax deduction for individuals
Tax deductibility of salary payments
Fringe benefits: new method of calculation of taxable value of cars
Capitalisation/distribution of tax free reserves; corporate income tax liability in case of losses
Deductibility of foreign tax losses
Calculation of technical provisions established by Insurance Undertakings
VAT
VAT cash accounting system; increase of turnover threshold
Real estate
Special Real Estate Tax; extended scope of exemptions
Short term property leases in the context of sharing economy
Suspension of capital gains tax from the transfer of real estate
Transfer pricing
Transfer pricing documentation penalties relaxed and aligned through the years
Tax procedure
Introduction of new Voluntary Disclosure Programme
