Tax Law

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The tax treatment of fixed assets and equipment depreciation costs related to Research & Development (R&D expenses)

in Practice Areas, Tax Law, Special topics

What 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....

27 Aug 2018

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Income from leasing of real estate property

This 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....

21 Aug 2018

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EN.F.I.A. (real estate property tax) and its calculation

According 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...

09 Jul 2018

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Greek tax provisions for Lebanese citizens who are Greek tax residents

What 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....

13 Jun 2018

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Documentation required for issue of a tax exemption certificate for R&D expenses

A 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...

13 Jun 2018

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

R&D expenses - The following categories of S&T expenditures do not qualify as eligible costs: fees, bonus fees, benefits, S&T related costs, fines, pecuniary sanctions, entertainment expenses, educating training, car leasing, commercial fairs...

13 Jun 2018

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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 ...

19 Dec 2017

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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)....

07 Dec 2017

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Tax benefits for R&D expenses