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Measures List
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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
Results 1 - 3 of 3.

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 2013/01/01
Version date 2013/06/13
This file was last updated on 2013/06/17

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 No 2238/1994 ratifying the Income Tax Code (Government Gazette I, 151 A', 6 September 1994), as amended by Law No 2579/1998 (Government Gazette 131 A/17.2.1998) Law No 2992/2002, Law No 3091/2002, Law No 3232/2004, Law No 3296/2004, Law No 3312/2005, Law No 3427/2005, Law No 3522/2006, Law No 3610/2007 Law No 3697/2008, Law No 3697/2008, Law No 3842/2010, Law No 3943/2011, Law No 4024/2011 Law No 4038/2012, Law No 4079/2012 and Law No 4110/2013.

 
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.



Comments

Taxpayers

  • Every individual who derives income from sources in Greece is subject to tax irrespective of his place of domicile or residence. Moreover, every individual with place of domicile or residence (more than 183 days) in Greece is subject to tax on his/her worldwide income. Due consideration is given to bilateral conventions designed to obviate double taxation.
  • An unclaimed estate.
  • Limited and unlimited general partnerships, civil law communities carrying out a business or profession, civil companies, whether with profit-making intent or not, undisclosed companies, participation companies and joint ventures as referred to in Article 2 (2) of the Books and Accounts Code (Presidential Decree No 186/1992).

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.

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.

Note: Spouses file a joint return but each spouse is liable for the tax payable on his or her share of the joint income. Losses incurred by one spouse may not be set off against the income of the other spouse. Deductible personal expenses concerning both spouses and tax credits are apportioned to each spouse according to the income earned by each one of them. Children under the age of 18 are, in principle, taxed jointly with their parents.

 
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.).

As from 2013 onwards, there are three different tax scales for each category of income:

a)      Income Tax Scale for employees and pensioners

b)      Income Tax Scale for Self-Employed and personal businesses

c)      Income Tax Scale for immovable property and securities

Income derived by agricultural services in 2013 is taxed according to the tax scale for salaried persons whereas as from 2014 onwards it will be subject to a 13% flat tax rate.

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 enterprises keeping accurate 3rd and 2nd category Books (Code of Books and Accounts) a number of expenses are deducted, such as:

  • payroll and remuneration of staff
  • insurance premiums in cases of team life insurance schemes for the staff, including lump sums and regular payments
  • donations of money as deducted from the taxable income of private individuals (see above)
  • expenses for the maintenance and repair of buildings and cars, in proportion to their size and value and according to specifications laid down by law
  • the value of raw materials used in production, as well as of other trade goods including special expenses on transportation, storage etc
  • rights and charges paid to enterprises and organisations for the use of technical assistance, novelties, trade marks, industrial methods, intellectual property etc, - according to specifications laid down by law
  • it has to be noted that if the provider of the above goods and services is an off-shore company, the expenses are not deducted, save for specific cases such as the purchase of petroleum products etc.
  • expenses for scientific and technological research, according to specifications laid down by law

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)

  1. 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.

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 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.

 

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.       10 per cent of the expenses of medical and hospital care of the taxpayer and his/her dependents, provided they are not covered by Social Security Funds and they exceed 5% of the taxable income.  The total credit cannot exceed €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.

2.      10 per cent of the amount of alimony that is paid to a spouse and is adjudicated by the Court. The tax reduction cannot exceed €1,500.

3.       a. 10 per cent of the total amount of donations to the State, municipalities and communities, state universities, the church, the monasteries of Mount Athos, the World Patriarchate of Constantinople, the Patriarchate of Alexandria and Jerusalem, the Sacred Monastery of Mountain Sinai, the state and municipal nursing homes and hospitals which are subsidized from State budget and the Archaeological Resources Fund.

b. 10 per cent of the total amount of donations to public or private non-profit legal entities which have been or are being legally constituted for cultural purposes.

c. 10 per cent of the amounts donated to philanthropic institutions, non-profit making bodies which provide educational services or grant scholarships, Greek legal entities governed by private or public law which have been or are being set up for philanthropic purposes.

Note: The amounts of the above donations are taken into account only if they have been deposited in a bank account in Greece, created for this purpose

4.       10 per cent of the value of medical equipment and ambulances  donated to the state and municipal nursing homes and private hospitals which are subsidized from the State budget.

Note: The total amount of all the above donations (case 3 and 4) cannot exceed 5 per cent of the total income that is taxed by the general provisions and the deduction can be up to €100.

The amount of tax derived on the basis of all scales is reduced by  €200 provided that the taxpayer himself or the people living with him and dependent upon him are handicapped (invalidity over 67%) or are invalid soldiers or military personnel injured in the course of their duties or receive pension by the State as war victims.

Note: Taxpayers who reside abroad but derive taxable income from sources in Greece are not eligible for these deductions, with the exemptions of residents of the EU Member States who derive at least 90 per cent of their total income from sources in Greece.

 

 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 (art.6 of Law No 2238/1994, as amended) are exempt from the tax.

Examples:

  • on condition of reciprocity, income of all kinds derived abroad by foreign ambassadors and diplomatic representatives
  • on condition of reciprocity, income from salaried services derived by consuls, consulate agents and employees of embassies and consulates that have the nationality of the represented State
  • gross imputed income from residence of self-owned house (for income effected from 1.1.2003)
  • imputed income deriving from the gratuitous granting of the use of house up to 200 square meters total by parents to children and vice-versa, provided that the house will be used as residence
  • profits from the operation of ships under the Greek flag, where such profits are subject to the special taxation on ship owners’ profits
  • 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
  • salaries, pensions etc paid to totally blind individuals or to heavily (over 80 %) mobility impaired individuals. Also non-institutional relief and the additional amount of pension paid to blind individuals and persons totally dependent for their care on others because of invalidity
  • the amount of grants and scholarships lawfully awarded by the Greek State, public entities or private charitable funds as specified by Law, provided that they are proven to be pursuing objectives beneficial to the Nation, or religious, educational, artistic, philanthropic etc ones; also grants and scholarships paid by foreign States, organisations and funds to Greek citizens
  • money awards paid by the State, the Academy of Athens or the Organisation of the “Music Hall” (“Megaro Mousikis”) to reward scientific, artistic and generally intellectual performance
  • financial aid to recognised political refugees residing temporarily in Greece as well as 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, the EU or the Greek State
  • subsidies paid to young professionals and entrepreneurs within the framework of employment programmes of the National Employment Organisation (OAED), as specified by Law
  • subsidies paid to young professionals and entrepreneurs
  • benefits for third child or more.

 

Exemptions from tax on savings:

  • 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.


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

Above rates are applicable for salaried persons and pensioners.  As from 2013 onwards, there are three different tax scales for each category of income:

a) Income Tax Scale for Salaried persons (employees and pensioners)

b) Income Tax Scale for Non Salaried persons (Self-Employed and personal businesses)

c) Income Tax Scale for immovable property and securities

 

a)      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 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.

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 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.

Special categories of taxpayers (prisoners, mentally handicapped living in phychiatric Institutions, old people living in nursing homes etc.) are exempt by the obligation of submitting receipts.

 

 

b)     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.

 

c)      TAX SCALE FOR IMMOVABLE PROPERTY & SECURITIES

Income

bracket

(€)

Tax rate

(%)

Tax bracket

(€)

Total amount of

Income (€)

Tax (€)

12,000

10%

1,200

12,000

1,200

Excess

33%

 

 

 

The gross income derived by real estate is subject to an additional tax of 1.5 %. The rate is raised to 3 % where the surface area of such residence is greater than 300 square meters. The amount of additional tax may not be greater than the amount payable on the taxpayer's total net income.

 


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
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 monthly instalments. If the tax is fully paid due time, a deduction of 1.5 %  is offered.

 
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 can not 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

The income of minor children is added to that of the parent with the larger total income before that income is added up and is taxed in that parent’s name. If the latter does not have custody of the child, the minor’s income is added to that of the other parent and taxed in that parent’s name. Where the parents’ total incomes are equal, the income of their minor children is added to the father’s income provided that he has custody. The children’s income deriving from parental contribution or gifts of assets is added to the income of the parent who made the contribution or the gift. In certain cases specified by law, a minor child has a personal tax obligation in respect of any income.

Non-residents

Generally, non-residents are taxed in the same way as permanent residents, subject to any bilateral conventions between Greece and other countries designed to avoid double taxation. Residents abroad are taxed for their income arising in Greece as well as when they are subject to the provisions of imputed income.

Taxpayers who reside abroad but derive taxable income from sources in Greece are not eligible for tax credits, with the exemptions of residents of the EU Member States who derive at least 90 per cent of their total income from sources in Greece.

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
2011 9,891.00 EUR 4.78
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 0.00
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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