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Iason Skouzos - TaxLaw > Practice Areas  > Tax Law (Page 8)

Clarifications provided by GSRT on eligible costs of R&D expenses

The above eligible costs of scientific and technological research, as same are laid down in Joint Ministerial Decision 109343/I2/GG B 2351-11.07.2017, are classified as follows: Expenditure Categories: Remuneration of Salaried Personnel, Fees of Contracted Associates, Building Costs Amortizations, Depreciation of Costs of Intangible Assets purchase, Transportation Expenses, Cost of Purchase of Consumables, Other Expenses ...

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The recent No. 109343/12/2017 Common Ministerial Decision for the determination of the criteria for the characterization of the expenses of scientific and technological research of enterprises under article 22A of the Income Taxation Code

The recent No. 109343/12/2017 Common Ministerial Decision of the Ministers of Education, Research and Religious Affairs and of Finance, for the determination of the criteria for the characterization of the expenses of scientific and technological research of enterprises under article 22A of the Income Taxation Code (L.4172 / 2013)....

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Tax treatment of director’s fees paid by a UK company to Greek tax residents

In respect to the taxation on Management Board Member’s fees and dividends provided by a corporate body or legal person or legal entity with registered offices in the UK, the following apply: According to the new Income Tax Return Code (Law 4172/2013, from now on “ITRC”), the taxpayer that is a tax resident of Greece, is under the obligation to pay taxes based on his global income. A. Dividends taxation Income  from dividends is considered a capital income (article 35 of ITRC) and is being taxed at a rate of 10% (article 40 par. 1 of ITRC). When a Greek national taxable natural person...

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Tax guide for Greece

The fundamental rules of taxation in Greek law The fundamental rules of taxation in Greek law are contained A) in article 4 §§ 1 & 5 of the Greek Constitution which read as follows: 4§1 “Greeks are equal as against the Law”; 4 §5 “Greek citizens contribute without discrimination to public fees depending on their powers” B) in article 78 §§ 1 & 2 of the Greek Constitution: 1) No tax is imposed or collected without a formal law that sets the object of taxation, the income, the nature of property, the expenses or the transactions to which the tax relates...

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Taxation of individuals

Τhe main taxes imposed on individuals The main types of taxation on individuals are income and capital taxes. Of course, there are also many other forms of indirect taxes, mainly on transactions and consumption. Income taxation is the most important tax that affects individuals. The two main categories of capital tax are tax on inheritance/gifts inter vivos/lottery gains and tax on the transfer of real property. In the present chapter we deal only with 1) income tax 2) tax on inheritance/gifts inter vivos/lottery gains; A. Income tax on individuals   1) Who is subject to income tax in Greece? Subject to income tax in Greece...

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Greek CFCs rules

The New Income Tax Code (Law 4172/2013 hereinafter “ITC”) introduced in Greek Tax legislation provisions pertinent to Controlled Foreign Corporation Rules (“CFCs rules”). Controlled Foreign Corporation are legal persons or legal entities which are tax residents in different countries with such links between them, leading to effective control of one company (“Foreign Company”) over the other (“Controlled Company”). The CFC rules are features of an income tax system designed to limit artificial deferral of tax by using offshore low taxed entities. Pursuant to Article 66 ITC, taxable income shall include the non-distributed income of a legal person or legal entity (which...

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Tax treatment of the tax paid abroadfor the tax years before the 1st of January 2014

Pursuant to Article 109 par. 4 and 5 of the previously in force Income Tax Code (Law.2238/1994 - hereinafter "ITC"), the tax paid in advance, the withholding tax and the tax which “demonstrably” paid abroad regarding the income obtained abroad, are considered to be deductable from the total due income tax amount (including the additional tax) in Greece. In no case, the tax paid abroad can be higher than the tax amount which is attributable to such income in Greece. To prove the amount of tax paid abroad, a certification of the state's competent Tax Authority in accordance with Double...

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