01 Jun 2021

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Procedure, requirements and supporting documents for inclusion in the favourable tax scheme for digital nomads

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Competent body : 1. The tax office responsible for taking receipt of, examining, approving and rejecting applications for inclusion within the provisions of Article 5C of the Income Tax Code, for taking receipt of and examining the relevant supporting documents accompanying the applications and supporting documents to prove that the requirements in this Article are met, and for entering the data in the relevant electronic application is the Tax Office for Residents Abroad and Alternative Taxation for Greek Tax Residents, of the Independent Authority for Public Revenue (IAPR). ...

27 Apr 2021

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Tax incentives for “angel investors”

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in Tax Law, Special topics

In the context of recent initiatives to render Greece a more investment-friendly jurisdiction for businesses, and particularly for the startup and high-tech digital economy ecosystem, new article 70A of the Greek Income Tax Code (L. 4172/2013), which was enacted by virtue of article 49 of L. 4712/2020 (GG A’ 146), introduces the concept of “angel investors” in Greece and grants them with tax incentives in the form of an income tax deduction equal to an amount of 50% of the capital contributed to startups that are registered with the “Elevate Greece” Startup Platform of the General Secretariat for Research and...

23 Mar 2021

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Tax residence in Greece and special conditions due to COVID-19 pandemic

Posted by Niki Plyta

in Tax Law, Special topics

According to Greek tax law, an individual is considered as a Greek tax resident, as long as he/she has their permanent or main residence or usual residence or the center of their vital interests, namely their personal and financial ties, in Greece. Also considered as a tax resident of Greece is an individual who resides in Greece for a period exceeding 183 days, in total, during a tax year. However, the aforementioned presumption does not apply in case of an individual who stays in Greece exclusively for touristic, medical, therapeutic or similar purposes and their stay does not exceed a 365-day...

11 Jan 2021

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Sports Law & Taxation – New tax schemes to attract high net worth individuals and pensioners – 03.12.2020

Posted by Έλενα Μπατάλα

in Tax Law, Publications

Sports Law & Taxation - New tax schemes to attract high net worth individuals and pensioners - 03.12.2020...

21 Dec 2020

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Incentive for individuals (employees & sole traders) to transfer their tax residence to Greece

Posted by Έλενα Μπατάλα

in Tax Law, Special topics

[vc_row triangle_shape="no"][vc_column][vc_column_text]New article 5C of the Income Tax Code By virtue of Article 40(1) of Law 4758/2020, a new article 5C is added to the Income Tax Code, which provides a special method for taxing income from salaried work and business activity, acquired in Greece by natural persons who transfer their tax residence to Greece. The new provision provides for the following: 1. Any taxpayer, being a natural person, who transfers his/her tax residence to Greece shall be subject to taxation, as specified in paragraph 2 regarding income from salaried work acquired in Greece within the meaning of Article 5(1)(a), where all the...

16 Dec 2020

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EU GAAR Brochure and case law overview

Posted by Niki Plyta

in Tax Law, Publications

EU GAAR Brochure and case law overview - Interpretation and application of the general anti-abuse rule of the Parent-Subsidiary Directive...

19 Nov 2020

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Required documents for the Greek tax registration number (A.F.M.) issuance

Posted by Έλενα Μπατάλα

in Tax Law, Special topics

The required documents to apply an individual for a Greek tax registration number (A.F.M.) in Greece are the following: 1. Form M1 "Application for tax number/ Change of Personal Data", including the following information: • personal information, ie surname, father name, date of birth, place of birth; • identity information, ie number of passport, date and authority of issuance; • nationality, profession and marital status; 2. Current residence address in Greece; it is not required any document proving your address in Greece (ie lease contract etc). The residence determines the local competence of tax office. 3. A transcript of your passport or your identity card. The above...

17 Nov 2020

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Alternative taxation of income generated abroad for individuals who transfer their tax residence to Greece [Article 5A of Law 4172/2013]

Posted by Έλενα Μπατάλα

in Tax Law, Special topics

A taxpayer (who is a natural person) who transfers his or her tax residence to Greece can be taxed in an alternative manner for income generated abroad, in other words all income not generated in Greece, provided all the following conditions are met: a) he or she was not tax resident in Greece during 7 of the previous 8 years prior to transfer of his or her tax residency to Greece, which is examined based on the records held by the tax administration and b) he or she proves that he/she or his/her relative (spouse and persons in the ascending or descending...

13 Nov 2020

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Alternative taxation of income of natural persons who are beneficiaries of pension income from abroad

Posted by Έλενα Μπατάλα

in Tax Law, Special topics

Alternative taxation of income of individuals who are beneficiaries of pension income from abroad and who transfer their tax residence to Greece - Procedure and conditions for inclusion [Article 5B of Law 4172/2013]. An individual recipient of pension income who transfers his or her tax residence to Greece can be taxed in an alternative manner for income that is generated abroad. Under the alternative method of taxation, each tax year the individual pays a tax at a rate of 7% for all income acquired abroad, unless that income is exempt from tax in the country of residence under the provisions of...

28 Jul 2020

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Law 27/1975 offices of ship management companies – dividend distribution

Posted by Έλενα Μπατάλα

in Tax Law, Special topics

(Memo on the tax obligations of a foreign shipowner company in Greece related to distribution of dividends to individuals-Greek tax residents through their foreign ship management Company which established an office under law 27/1975”) tax obligations 1.a. As regards companies established an office in Greece under law 27/1975 and engaged in ship management, the following applies: If that companies have not signed the New Memorandum on Voluntary Grant between the Greek State and the Shipping Community ratified by Law 4607/2019, the tonnage tax on vessels flying foreign flag, which are managed by foreign companies established in Greece pursuant to Article 25 of...

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