New fields in income tax returns of 2015

Incomes generated in 2014 are going to be taxed in accordance with new Income Tax Code - ITC (Law 4172/2013), effective since 01/01/2014. The new tax framework brings significant changes regarding the taxation of payroll and profit income, dividends, capital gains, interests etc.


Settlement of taxes due confirmed by 1st October 2014

The Circular 1245/20.11.2014, which modifies Circular 1236/07.11.2014, was released, regulating the settlement of tax liabilities due coming from taxes imposed until October 1, 2014.

Details on investments of strategic interest and residence permits

The Joint Ministerial Decision No. 53969/2014 / 22.10.2014 was released by the Deputy Ministers of Interior and Development, defining the procedure regarding the issuance of residence permits to individuals who carry out strategic investments.

Changes in the input VAT deduction process

On 30/10/2014, the General Secretary of the Public Revenue released a Decision on simplifying the process of input VAT deduction. This regulation relates to the approved warehouse-keepers of alcohol and alcoholic beverages owning more than one tax warehouses.

Remmitances abroad during 2009 – 2011

According to par. 3 of Art. 48 of Law. 2238/1994 (old ITC), in case of an increment in a taxpayer’s property coming from an unknown or non-continuous or non-usual source, the taxpayer may be requested to demonstrate:

  • The real source of income or
  • That...
Shipping companies voluntary grant 2014 - 2017

The agreement between the Greek government and the Maritime Community, regarding the desire of the Community to provide funding for the difficult financial situation facing Greece, was ratified by art. 42 of L. 4301/2014.


The Tax Scheme for Income in Kind and Benefits

The Ministry of Finance released on the 6th of October the Circular 1219/2014 regarding the tax treatment of income provided in kind by companies to employees and employees’ relatives.


Greek Tax Highlights
New Tax Rates 2014 - 2015
Corporate Taxation: 26%
Dividend Tax: 0 to 10%
VAT: 6.5% | 13% | 23%
Tax on Interest: 15%
Tax on Royalties: 20%
Capital Gain Tax: 15%
47 Double Tax Treaties
IFRS or Greek GAAP