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Measures List
First Prev Next Last Separator
Measure Name
Date when measure came into force
New unified progressive tax schedule 2010/01/01
New tax scale, reduction of tax credits etc. 2011/01/01
New tax scales, abolition of tax credits etc. 2013/01/01
Overhaul of the previous ITC 2014/01/01
Results 1 - 4 of 4.

Generic Tax Name Personal income tax
Tax name in the national language Φόρος εισοδήματος φυσικών προσώπων
Tax name in English Personal income tax
Member State EL-Greece
Tax in force since 1994/01/01
If abolished, date on which the tax ceases to apply
Business version date 2015/01/01
Version date 2015/02/17
This file was last updated on

Type of tax
Direct taxes Personal income tax
Corporate income tax
Other

Indirect taxes VAT
Excise duty (EU harmonised)
Alcoholic beverages
Energy products and electricity
Manufactured tobacco
Other

Social security contribution Employers
Employees
Other
 
Legal base

Law 4172/2013 (Income Tax Code), as amended by Law 4174/2013, Law 4223/2013, Law 4302/2014, Law 4303/2014, Law 4305/2014, Law 4254/2014, Law 4283/2014, Law 4307/2014 and Law 4316/2014

 
Who sets
The tax rate is set by




The tax base is set by




The reliefs are set by




Comments
 
Beneficiary





Comments

 
Geographical Scope

Greece.

 
Taxpayers
Domestic-source income of non-residents is Taxed
Not Taxed
Comments

Employment incomes of married couples are Taxed jointly
Taxed separately
Comments

Spouses file a joint return but each spouse is liable for the tax payable on his or her share of the joint income. The husband is liable for the filing of the joint return. Deductible personal expenses concerning both spouses and tax credits are apportioned to each spouse according to the income earned by each one of them. Losses incurred by one spouse may not be set off against the income of the other spouse. Spouses file a return separately if a) they have been divorced at the time of the tax filing or b) one of the spouses is bankrupt or has been subject to guardianship.



Comments

Taxpayers

  • Every individual with place of tax residence in Greece is subject to tax on his/her worldwide income. Due consideration is given to bilateral conventions designed to obviate double taxation. Exceptionally, Individuals working as a foreign personnel of offices established in Greece under the provisions of Law 89/1967 are subject to tax for their income arising in Greece.
  • Every individual who is not a tax resident of Greece is subject to tax for the income arising in Greece.

Obligation to file a tax return:

A. The individuals mentioned above who have completed 18 years of age, regardless of having taxable income or not.

Note: Regarding income derived by minor children, the parent who has the custody is liable for filing a tax return.

B. Individuals residing abroad for their income arising in Greece as well as when they are subject to the provisions of imputed income, irrespective of whether they are tax exempt (from imputed income).  

C. Any individual shall file a tax return as long as he/she has been called upon by a document issued by the head of the competent Local Tax Office.

 
Tax object and basis of assessment
As general rule, taxable income under personal income tax includes























Comments

Income considered Domestic income
Worldwide income (subject to double-tax relief)
Comments

Benefits in kind
The following benefits in kind are usually (partially or fully) taxable












Comments


Comments

Total income of all categories (e.g. income from immovable property, salaries, enterprises etc.).

There are four categories of income:

a) Income from employment and pensions

b) Income from business activities,  which also includes income from self-employed activities and agricultural activities as well

c) Income from capital and

d) Income from Capital gain, which includes income deriving upon transfer of real estate or securities

Benefits in kind:

Benefits in kind received by the employee or his relatives of a value exceeding EUR300 per year are included in taxable income at their market value.

Benefits  in kind that are considered as employment income are:  the market value of company cars provided to employees or partners or shareholders, benefits in kind in the form of loans provided to employees or partners or shareholders, the market value of stock option rights provided to employees or partners or shareholders, the market value of residence granted to employees or partners or shareholders, calculated under the current provisions.

In order to determine the tax payable on the total net income of each taxable person, the taxes corresponding to different categories of income are summed up and positive and negative figures are netted out.

Where provided for by Law, allowances and expenses are then deducted and the remainder constitutes the taxable income. Income tax itself, fines and other taxes are not deductible.

 
Deductions, Allowances, Credits, Exemptions
Deduction for professional expenses.
The deduction is:





Comments

Deductions from the tax base
The following items are usually (partially or fully) deductible

















Comments

Allowances
The basic yearly allowance for an individual amounts to: 0.00  EUR/National currency
The basic yearly allowance for a couple amounts to: 0.00  EUR/National currency
Additional allowance for 1st child 0.00  EUR/National currency
Additional allowance for 2nd child 0.00  EUR/National currency
Additional allowance for 3rd child 0.00  EUR/National currency
Additional allowance for additional child 0.00  EUR/National currency
Additional allowance for old age dependents 0.00  EUR/National currency
Comments

Deductions (expenses of enterprises)

In order to determine the net taxable income of business activities, all expenses are deductible, with the exception of the provisions of art 23 of the ITC, provided that:

a) They are carried out in the interest of the business or as a part of the ordinary trade transactions,

b) The corresponding transaction is real and its value does not abstain from the fair value as set by the indirect methods of audit, and

c) They are recorded in the books of the relevant tax year and are proven by appropriate documentation.

In addition, the expenses for scientific and technological research are deducted from the gross income of enterprises, increased by 30%. The expenses for equipment are allocated equally in the next three years in order to be increased by 30%.


Credits
The basic yearly credit for an individual amounts to: 2,100.00  EUR/National currency  or  %  of tax base
The basic yearly credit for a couple amounts to: 4,200.00  EUR/National currency  or  %  of tax base
Additional credit for 1st child
Additional credit for 2nd child
Additional credit for 3rd child
Additional credit for additional child
Additional credit for old age dependents
There are tax credits for:

















Comments

Tax deductions/credits

The tax arising by the tax scale for employees and pensioners is reduced as following:

  • By €2,100 for annual income up to €21,000
  • By the amount of €100 per each €1,000 of income and up to €2,100 for annual income exceeding the amount of €21,000. For income exceeding the amount of €42,000, no tax deduction is granted.

The above tax deduction is granted under the condition of the on time submission of receipts/invoices for the purchase of goods and services equal to 10% of the taxable income and up to the amount of €10,500.  Should the value of invoices is less than the one required, a 22% penalty is imposed on the remaining amount.

 

Tax credits

The following tax credits are deducted from the payable amount of tax, as calculated on the basis of the scale after applying the above tax allowance:

1.     The amount of tax is reduced by EUR 200 in case the taxpayer himself or his dependents are: handicapped (over 67%), handicapped soldiers or military personnel injured in the course of their duties, war victims or victims of terrorist attacks or in case they receive pension by the State as war victims or as handicapped.

2.    10% of the expenses of medical and hospital care of the taxpayer and his dependents, provided they are not covered by Social Security Funds and they exceed 5% of the taxable income. The total credit cannot exceed EUR 3,000. Hospital expenses in respect of unmarried or widowed children who suffer from an incurable disease, who are mentally retarded or are blind and whose total annual income does not exceed €6,000 are also included.

3.      10% of the total amount of donations to entities in Greece or other EU or EEA member-states that are defined by the Minister of Finance, provided that the donation exceeds the amount of EUR 100 during the fiscal year. The total amount of donations cannot exceed 5% of the total taxable income.

Note: Taxpayers who are not Greek tax residents are not eligible for the tax credits mentioned above, unless they are tax residents of an EU or EEA Member State and a) at least 90% of their total income is derived from sources in Greece or b) they prove that their income is so low that are eligible for a tax credit according to the national law of the country of their tax residence.

 

 Spouses

When the wife derives income taxable on the basis of the scale, then the following are deducted from her own payable amount of tax:

a) deductions related to medical and hospital expenses, donations and the lump sum of €200 of the spouse

b) deductions related to medical and hospital expenses of the spouse’s  children from a former marriage, her children born out of wedlock, her parents and orphaned relatives of first and second degree of kin

If from the joint tax return submitted by the spouses no tax obligation arises for one of them, or the payable amount of tax is less than the sum of the deductions (medical and hospital expenses, lump sum of €200)  then the whole amount of the deductions or the ensuing difference is attributed to the payable tax of the other spouse.


Losses
Losses can be
Carried-forward for Indefinite
 Years
Carried-back for Indefinite
 Years
Transferred to spouse or partner
Comments

The losses of income from commercial and agricultural undertakings manifest in 3d and 2d Category Books (Accounting Information Code - e.g public limited companies) may offset taxable income from other sources or be carried over for the next five years, provided that the books are properly and accurately kept over that period. Losses incurred abroad can only be offset against income derived abroad.


Exemptions
The following income is exempted from income tax























Comments

Some forms of income, specified by Law are exempt from the tax.

Examples of exemptions:

1. Income from employment and pensions

  • on condition of reciprocity, income of all kinds derived by foreign ambassadors and diplomatic representatives, by consuls, consulate agents and employees of embassies and consulates that have the nationality of the represented State as well as by individuals working in the EU Institutions or other International Organizations
  • Alimony received by the beneficiary according to the Court adjudication or  notary Document.
  • all forms of pensions and relief provided to war victims and their families, as well as to soldiers and military personnel injured in the course of their duties in times of peace
  • benefits and similar allowances provided to special categories of handicapped people
  • salaries, pensions etc. paid to totally blind individuals or to heavily (over 80 %) mobility impaired individuals.
  • unemployment benefits granted by the National Employment Organisation (OAED)  provided that the total annual income of the beneficiary does not exceed the amount of €10,000,
  • the social solidarity benefit (E.K.A.S.) of pensioners
  • financial aid to recognised political refugees, to people residing temporarily in Greece for humanitarian reasons and to persons that have submitted the relevant application to the competent Greek authorities, paid by bodies carrying out refugee aid schemes financed by the UN and the EU
  • the benefit for hazardous labour provided to employees working in the armed forces, the police, the fire and port departments as well as the special allowance to medical, nursing and ambulance staff up to 65%.

 

2. Profits from business activities

 

Profits of individuals and very small businesses, as defined in the 2003/361/EU Recommendation, derived by the disposal of electricity power to the Public Electricity Corporation “D.E.I. S.A.” or other supplier according to the “Special Program for developemnt of photovoltaic Systems up to 10 kw” are tax exempt.

 

 

3. Income from capital

 

There is tax exemption on:

a) Interest of bond loans and treasury bills of the Greek State that are received by individuals,

b) Interest arising from bonds issued by the European Financial Stability Facility (E.F.S.F.) in application of the program for the restructuring of the Greek debt.

 

 

4. Capital gains due to the transfer of capital

 

There is tax exemption on:

a) Capital gains derived from the transfer of real estate property up to the amount of€25,000 after the adjustment provided that the taxpayer held the property for at least 5 years.

b) Capital gains derived from the exchange of bond loans of the Greek State or corporate bonds under the guarantee of the Greek State in application of the program for the restructuring of the Greek debt.

c) Capital gains derived from the transfer of securities provided that  the individual is tax resident in a country  with which Greece has concluded a Convention/Agreement for the avoidance of double taxation and that is proved with relative documentation.



Comments
 
Rate(s) Structure
The following personal income tax rates apply to aggregate annual income (allowances not included)
Bracket 1 From  0.00  EUR/Natcur
To  25,000.00  EUR/Natcur
Rate: 22.00 %
Bracket 2 From  25,001.00  EUR/Natcur
To  42,000.00  EUR/Natcur
Rate: 32.00 %
Bracket 3 From  42,001.00  EUR/Natcur
To  0.00  EUR/Natcur
Rate: 42.00 %
Comments

1) The taxable income derived by employment and pensions is subject to tax according to the following tax scale:

 TAX SCALE FOR EMPLOYEES AND PENSIONERS

Income

bracket

(€)

Tax rate

(%)

Tax bracket

(€)

Total amount of

Income (€)

Tax (€)

25,000

22%

5,500

25,000

5,500

17,000

32%

5,440

42,000

10,940

Excess

42%

 

 

 

The tax derived by the above tax scale is reduced by the amount of €100 per each €1,000 of income and up to €2,100 for annual income exceeding the amount of €21,000.The tax deduction is granted under the condition of the on time submission of   receipts/invoices for the purchase of goods and services equal to 25% of the taxable income and up to the amount of €10,500.  Should the value of invoices is less than the one required, a 22% penalty is imposed on the remaining amount. 

The tax deduction is granted under the condition of the on time submission of   receipts/invoices for the purchase of goods and services equal to 25% of the taxable income and up to the amount of €10,500.  Should the value of invoices is less than the one required, a 22% penalty is imposed on the remaining amount.

  • The above tax scale does not apply for employment income acquired by:

a) Officers working in ships of the merchant marine, whose income is taxed at a 15% flat rate and

b) the low income crew working in ships of the merchant marine, whose income is taxed at a 10% flat rate.

  • The taxable income of the first bracket of the above scale is increased by 50% for taxpayers living in islands with less than 3,100 inhabitants.

 

2) The taxable income from business activities is taxed according to the following tax scale:

TAX SCALE FOR SELF-EMPLOYED & PERSONAL BUSINESSES

Income

bracket

(€)

Tax rate

(%)

Tax bracket

(€)

Total amount of

Income (€)

Tax (€)

50,000

26%

13,000

50,000

13,000

Excess

33%

 

 

 

  • For new personal business or new self-employed who started their entrepreneurship after 1st January 2013, the tax rate of the first income bracket of the above scale is decreased by 50% for income up to  €10,000 for the first three years of their business activity.
  • Profits derived by personal agricultural business are taxed at a 13% tax rate.
  • The taxable income of the first bracket of the above scale is increased by 50% for taxpayers  living in islands with less than 3,100 inhabitants.

 

3) The Capital income is taxed according to the following tax rates:

a) Dividends are taxed at a 10% flat rate, which exhausts the tax liability of individuals

b) Interests are taxed at a 15% flat rate, which exhausts the tax liability of individuals

c) Royalties are taxed at a 20% flat rate, which exhausts the tax liability of individuals

d) Income derived by real estate is taxed according to the following tax scale:

TAX SCALE FOR IMMOVABLE PROPERTY & SECURITIES

Income

bracket

(€)

Tax rate

(%)

Tax bracket

(€)

Total amount of

Income (€)

Tax (€)

12,000

11%

1,200

12,000

1,200

Excess

33%

 

 

 

 4) Capital gains derived from transfer of real estate is taxed at a 15% tax rate.


Regional taxes
Regional taxes are (rate in capital region) A lump-sum amount:
A percentage of income:
A tax surcharge:
Comments

Local/municipal taxes
Local taxes are (rate in capital city) A lump-sum amount:
A percentage of income:
A tax surcharge:
Comments

Special surcharges
There are special surcharges in the form of:
Surcharge 1 : Name:
A lump-sum amount:
A percentage of income:
A tax surcharge:
Comments

Separate taxation
Separate taxation applies to the following items: Employment income
Income from business or self-employed activities
Income from sport and entertainment activities
Benefits in kind (company car, meal cheques, etc)
Pension income
Owner-occupied immovable property
Dividends 10.0 %
Interests from government bonds 15.0 %
Interests from corporate bonds 15.0 %
Interests from special saving accounts 15.0 %
Interests from deposits 15.0 %
Royalties 20.0 %
Income from renting immovable property
Income from renting movable property
Capital gains on immovable property 15.0 %
Capital gains on movable property
Inheritance
Annuities from life insurance
Prizes and awards
Scholarships
Income from occasional activities
Revenues from donations and gifts
Revenues from lotteries and games activities
Comments

Income from Dividends

Distributed profits by Greek Corporations in the form of dividends, Board and Directors fees, additional compensation of directors and employees other than wages, as well as interim dividend payments received by individuals tax residents in Greece are subject to a 10% withholding tax. This tax exhausts the tax liability of the recipient.  

 

Income from Securities

Tax on savings

Domestic Savings:

  • Income tax at a rate of 15 % is levied on interest deriving from any form of saving accounts held in any credit institution established in Greece held by natural entities or legal entities as defined in paragraph 4, article 2 on the Income Tax Code (general or limited partnerships, etc), domestic banking and insurance institutions, branches of foreign banking institutions, co-operatives and non-profit organizations. The tax is withheld by the institution liable to pay interest, disbursed within 15 days from the end of the month in which interest was earned and that exhausts the tax liability regarding this income.
  • In case of corporations, limited liability companies, public or municipal companies, as well as, local branches of foreign enterprises including banking or insurance institutions, interest deriving from saving accounts is taxed according to general taxation. Withheld tax of 15% on interest is counterbalanced.
  • When the beneficiary is an EU resident (with the provision of residence certificate), interest is not taxed in Greece. All relevant documentation is sent to the country of residence and interest is taxed in the country of residence (exchange of information according to the provisions of EU Directive 48/2003).
  • When the beneficiary is a non EU resident but resident of a country with a double taxation convention with Greece, terms of convention apply.

Exemptions:

  • Interest on any form of savings accounts of foreign currency held by non-residents in banking institutions established in Greece or the Greek Postal Savings Bank.
  • Interest deriving from voluntary demand deposits or savings accounts in foreign currency held by non Greek residents in Consignments and Loans Fund.
  • Savings deposits with the sole purpose the issue of a housing/mortgage loan for the acquisition of the main residence
  • Deposits held by banking institutions, of the form of a mere cooperative credit institution, held in others banking institutions (including compulsory or not deposits in the National Bank of Greece), as well as deposits held by the Consignments and Loans Fund in the National Bank of Greece.

Interest paid by Greek Individuals to beneficiaries abroad:

As regards, interest paid by Greek individuals to beneficiaries abroad a 20% tax is withheld by the individual paying the interest when the beneficiary is individual and 33% when the interest is paid to legal entities. The intermediary bank may deny remitting the remaining interest amount abroad unless a payment certificate for the corresponding tax withheld is submitted to it. This tax exhausts any further tax liability regarding this income.

Tax is due on interest derived from loans which is at least equal to the one resulting by applying the minimum interest rate of interest-bearing treasure bills of three month duration.

Savings Abroad:

  • As regards interest deriving from savings or bonds abroad held by individuals and remaining abroad, a 15% tax is levied and paid through the submission of a special tax return filed to the competent tax office until the 31st January of the year following the time in which interest is paid or credited. This tax exhausts the tax liability regarding this income. Any tax withheld abroad in accordance with the Double Taxation Conventions is counterbalanced.
  • As regards interest deriving from savings abroad held by legal entities (corporations, limited liability companies, etc) and remaining abroad, they are taxed according to the general provisions.

 

Greek government bonds (art. 12 Income Tax Code):

  • As regards interest on Greek government bonds held by natural entities or legal entities as defined in paragraph 4, article 2 on the Income Tax Code (general or limited partnerships etc), banking or insurance institutions established in Greece, as well as local branches of foreign banking or insurance institutions, cooperatives and non-profit organizations, 15% income tax is levied on interest deriving from Greek government bonds and that exhausts the tax liability regarding this income. The tax is withheld on the day of expiration and disbursed within 15 days from the end of the month in which the tax was withheld.
  • As regards interest on Greek government bonds held by corporations, , including banking or insurance institutions, limited liability companies, private capital companies, public or municipal companies, as well as, local branches of foreign enterprises , interest deriving from Greek government bonds is taxed according to general taxation and withheld tax of 15% is deducted
  • In cases when the holder is a natural entity, EU resident, relevant documentation is sent to the country of residence and interest is taxed in the country of residence.
  • As regards accrued interest earned by Greek residents upon the transfer of Greek government bonds or coupons before their maturity, 15% tax withholding is imposed. If the transferred security is owned by the bank, the latter is required to pay the tax.

Exemptions:

  • Interest on government bonds held by non-residents (according to paragraph 1, article 31, Law 2682/1999)
  • Interest on government bonds with maturity two years or longer, provided that the primary holder retains the titles as well as the interest coupons until their maturity (paragraph 11, article 12 of the Income Tax Code).
  • Interest on government bonds issued abroad by the Greek State from 1st January 1997 onwards (paragraph 9, article 12 of the Income Tax Code).
  • Interest on interest bearing bills issued by the Greek State from 1st January 2003 onwards, provided that the primary holder is a private person, non EU resident, who acquires the interest bearing bills within 5 working days following the day of issue and retains them until their maturity.

Greek corporate bonds:

Interest deriving from private companies’ bond loans falls under the same taxation as interest deriving from government bonds (paragraph 8, article 26, Law 2789/2000), without any obligation of retaining the titles.

 

Foreign government bonds:

  • As regards interest deriving from foreign government bonds held by natural entities or legal entities as defined in paragraph 4, article 2 on the Income Tax Code (general or limited partnerships, etc), 10% tax is levied on deriving interest and exhausts the tax liability regarding this income.
  • As regards interest deriving from foreign government bonds held by (established in Greece) corporations, including banking or insurance institutions, limited liability companies, public or municipal companies, as well as, local branches of foreign enterprises interest deriving from foreign government bonds is taxed according to general taxation and withheld tax of 10% is deducted.
  • As regards bonds issued abroad that are transferred before maturity, 10% income tax on deriving interest corresponding to the period of acquisition is withheld by the intermediate Greek banking institution, independently of whether the interest is returned to Greece or is reinvested abroad.
  • As regards accrued interest earned by Greek residents upon a transfer of foreign bond or coupon, 10% tax is imposed.

 Income taxed individually:

Some forms of income are taxed individually, and the payment of such tax exhausts the tax liability regarding this income. Examples:

  • a tax of 20 % is levied on the profit or gain deriving from the transfer of a whole enterprise (material and immaterial elements) or branch, as well as the transfer of participation rights of personal companies. Much lower rates (5 % and 10 % respectively on the profit or gain) apply when such transfer takes place between relatives of first and second degree of kin (parents and children, spouses etc.) and in some cases a total exemption is granted (e.g. transfer of personal companies or participation rights of personal companies from parents to children or between spouses, in case of retirement and only if the company does not own real estate property).
  • a tax of 20 % is levied on the profit or gain deriving from the transfer of any right connected to the operation of an enterprise or the exercise of a profession
  • a tax of 20 % is levied on any sum of money paid by the lessee to the lessor other than rent
  • the legal remuneration of architects and mechanics that have designed and supervised the construction of a building for sale, is deducted by 10 % and taxed with a rate of 15 % plus a 15 % levy in favour of the Agricultural Insurance Organization (OGA) on the tax amount
  • a tax of 25 % is levied on the remuneration paid by the Greek State, municipalities, the Greek Organisation for Tourism, the Greek Opera House etc. to foreign artists for performing in Greece
  • transfer of shares of non-listed companies is taxed at 5 % on the price of the sale when such shares are acquired until 30.06.2013. For shares acquired after 01.07.2013, a tax of 20% is levied on the profit deriving from their transfer, which exhausts the tax liability of individuals. When the beneficiaries are legal entities, this income is further taxed according to the general provisions and the withholding tax is counterbalanced.
  • transfer of shares of listed companies in Stock Exchanges (Greece or abroad) is taxed at a 20% tax rate when such shares are acquired from 01.07.2013 onwards. This withholding tax exhausts the tax liability of individuals whereas in case of legal entities, they are further taxed according to the general provisions and the withholding tax is counterbalanced. Profits deriving by the transfer of shares of listed companies until 30.06.2013 are tax exempt.  
  • a tax of 2‰is levied on the sale of shares listed in the Athens Stock Exchange Market for transactions effected in it. The tax is calculated upon the price value of the share and must be paid by the vendor, whether natural person or legal entity and regardless of his nationality, place of residence or establishment etc. This tax is also levied on sales of shares listed in foreign Stock Exchange Markets.

Sales of shares affected by Special Negotiators (Law No 1806/98, art 22 A) are exempt from the tax.


Withholding taxes
The tax is withheld when paid to residents on: Dividends: 10.00 %
Final Creditable
Interests from governments bonds: 15.00 %
Final Creditable
Interests from corporate bonds: 15.00 %
Final Creditable
Interests from special saving accounts: 15.00 %
Final Creditable
Interests from deposits: 15.00 %
Final Creditable
Comments

Dividends are subject to a 10% withholding tax, which exhausts the income tax liability of the recipients. This rate shall apply to distributed profits approved by the General Meetings as of 1st January 2014 onwards. For distributed profits which are approved in 2013, the applicable withholding tax rate is 25%.  

As regards withholding tax on interests, savings and government bonds, see above.



Comments
 
Tax due date

The tax can be paid in three equal bimonthly installments. The first payment shall be made until the last day of the month following the deadline for tax filing and the remaining two payments shall be made until the last day of the third and fifth month following the deadline for tax filing respectively.

 
Tax collector

Ministry of Finance.

 
Special features

Municipalities-local authorities are beneficiary of the revenue for: 20 %.

Married couples

Spouses must submit a joint tax return, except in certain cases specified by Law. Taxes, duties and levies on the income declared in the joint return are calculated separately for each one. Losses by one spouse cannot be offset against the income of the other. The income of one spouse is added to that of the other and taxed as if it were the latter’s if it accrues from a business that is financially dependent on that other spouse.

Children’s own income

a) Single children who are under 18 years old or they are adults up to 25 years old and study at the university or are registered as unemployed or are serving their military service are not considered as dependent members, if their annual taxable income exceeds the amount of €3,000  and provided that they cohabit with their parents.

b) The income of minor children is added to the income of the parent who has the custody and is taxed in the name of the parent who is in principle liable for tax filing. This provision does not apply to the following types of income, in respect of which the minor child has a personal tax obligation: a) employment income and b) pensions due to the death of his father or mother.

Non tax residents

Taxpayers who are not tax residents of Greece are subject to tax for the income arising in Greece.

Taxpayers who are not Greek tax residents are not eligible for the tax credits mentioned above, unless they are tax residents of an EU or EEA Member State and a) at least 90% of their total income is derived from sources in Greece or b) they prove that their income is so low that are eligible for a tax credit according to the national law of the country of their tax residence.

Presumptions of income

The ownership of certain “luxury” goods, such as houses (first house and second houses), cars, leisure boats, private planes and helicopters, swimming pools, suggests that the taxable person disposes of a minimum amount of yearly income to provide for the goods’ expenses (preservation, circulation etc.). This amount is determined by the tax authorities according to certain objective criteria relating to the goods’ size, age etc. The taxable person can challenge this “presumption” in certain cases laid down by Law (unemployed persons, persons co-habitating with their parents, serving in the army, underage orphans, incarcerated or hospitalised persons and anyone that can prove force majeure), by producing conclusive proof that the actual expenses were lower.

Special features (Partnerships and other entities)

Other types of entities (apart from corporations) subject to income tax are partnerships (limited (EE) and unlimited general (OE) partnerships), civil law societies, civil law or non-profit companies, silent partnerships, participation companies, joint-ventures, legal services and notary companies). The total income of those entities, after the deduction of the profits which are tax exempt or taxed separately, is taxed according to the following tax scale:

 

Partnerships, joint ventures - other legal entities maintaining single entry accounting books

(2013 onwards)

Income

bracket

(€)

Tax rate

(%)

Tax bracket

(€)

Total amount of

Income (€)

Tax (€)

50,000

26%

13,000

50,000

13,000

Excess

33%

 

 

 

 

For those entities which maintain double-entry books, their tax treatment  is now aligned with that of corporations (SAs, LLCs and PCCs), which means that the entire amount of their net profits is taxable at the level of the entity  (taxation at the level of the entrepreneur is abolished) at a flat rate of 26% , whereas a 10%  withholding tax is imposed on distributed profits.

 
Economic function







Comments
 
Environmental taxes



Comments
 
Tax revenue
ESA95 code d51m (d51ab)

Year
Annual tax revenue (millions)
Currency
Tax revenue as % of GDP
Tax revenue as % of total tax revenue
2012 13,446.00 EUR 7.03
2011 9,906.00 EUR 4.79
2010 9,868.00 EUR 4.37
2009 11,469.00 EUR 4.83
2008 11,226.00 EUR 4.64
2007 10.51 EUR 0.01
2006 9.50 EUR 0.00
2005 8,612.00 EUR 4.32
2004 7,800.00 EUR 4.03
2003 7,052.00 EUR 3.94
2002 6,614.00 EUR 4.05
2001 6,068.00 EUR 3.99
2000 6,154.00 EUR 4.30
1999 5,369.00 EUR 3.84
1998 4,750.00 EUR 3.68
1997 3,535.00 EUR 2.80
1996 2,735.00 EUR 2.38
1995 2,215.00 EUR 2.12

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