Income Tax Code, all revenues acquired by legal entities of Article 45 of the Income Tax Code, including income from lease of property and goodwill deriving from the transfer of property for value, are considered as income from business activity and taxed...
Continue readingΤhe accounting treatment of the branch, the accrual accounting principle applies i.e. the transactions made during the tax year in the relevant accounts between the head office and the branch are only monitored while the incorporation of the financial data of the branch into its accounts taking place at the end of the tax year....
Continue readingRegulation (EU) 655/2014 establishes a European account preservation order (EAPO) procedure, providing creditors with the opportunity to secure (“freeze”) bank accounts throughout the European Union on the basis of a single application. The Regulation also provides for the possibility to obtain information regarding a debtor’s bank account....
Continue readingWhat is the tax treatment of fixed asset and equipment depreciation for the 2018 tax year? Examination of the possibility of expenditure in past years on building improvements and equipment purchases being depreciated during the 2018 tax year given the change in the tax regime (at what rate should this be done and for how many past years?) For the R&D applications submitted for tax years 2016 and 2017, which is the deadline for the General Secretariat for Research & Technology issuing a decision on these applications....
Continue readingThis income is acquired by any person to whom it has been legally transferred under a permanent contract or obtained by court order or via adverse possession, the right of full ownership or occupancy or usufruct or dwelling, as appropriate, as well as from the sub-lessor in case of subleasing....
Continue readingAccording to Law 4512/2018, the company under the name “National Cadastre and Mapping Agency S.A.” is abolished and replaced by a new public entity under the name "Hellenic Cadastre" (“Elliniko Ktimatologio”), based in Athens. The new entity is supervised by the Minister of Environment and Energy....
Continue readingAccording to articles 1-13 L.4223/2013, as amended and applied, since 2014, EN.F.I.A. is imposed to all real estate properties that are in Greece, either leased or not, and belong to natural or legal persons on the 1st of January each year and irrespectively of any amendments that may occur during that year and regardless of the transfer of the title. In particular, EN.F.I.A. is imposed to the following rights in rem: • Full ownership • Bare ownership • Usufruct • Dwelling • Surface of the real estate property EN.F.I.A. is also imposed to the following rights in rem or rights under contract law: • Of Exclusive use • Of...
Continue readingFor the social security of an employee working in Greece by virtue of a contract of employment with an employer established in another EU member state. According to article 21 of EU regulation 987/2009, due to the fact that the foreign employer has no presence in Greece, the employee is solely responsible for payment of the insurance contributions relating to his employment. ...
Continue readingWhat is the practical and legal significance for a Greek tax resident of the facts that Lebanon: i. does not have a Treaty for the avoidance of double taxation with Greece and it used to be a non-cooperative jurisdiction until 2017. ii. it has become a party to the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters. i. The first main consequence of the absence of a Double Taxation Convention between Greece and Lebanon until August 31st, 2017 is the risk of the same income being taxed twice, in Greece and Lebanon as well....
Continue readingA tax exemption certificate will be issued upon presentation of the following documentation by the company's legal representative, in both hard copy and electronic form: Submission form, Solemn Declaration, certification form, Financial Statements, articles of association , separate account, relevant resolutions of competent corporate bodies, costs allocation sheets, general research ledger...
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