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Impostos a Grècia

Tax Rates

Consumption Taxes

Nature of the Tax
Value-added Tax (VAT)
Tax Rate
24%
Reduced Tax Rate
A reduced VAT rate of 13% applies to hotel accommodation services; food services supplied by restaurants, grills, taverns, coffee shops, cafeterias, patisseries and other related businesses; provision of services for boarding schools, structures for disabled persons and structures providing accommodation to people with mental disabilities, mental disorders and use of drugs; oil types; meat and fish preparations; sugars and sugar confectionery; cocoa and cocoa preparations; miscellaneous edible preparations based on cereal, flour, starch or milk; preparations of vegetables, fruit, nuts, and fruit and vegetable juices; coffee, tea, preparations based on these products and coffee substitutes; pastes, preparations for sauces and sauces, preparations for soups and broths, ice creams, vinegar and salt.
Temporary reduction to 13% (until 30 June 2023): non-alcoholic beverages, without the addition of alcohol in any proportion and gaseous water; transportation of persons and their luggage; imported art objects, associations or antiquities and objects of artistic value when delivered by their creator or his successors; zoo tickets; services from gyms; services from dance schools and provided that they are not exempt.

A super-reduced 6% rate applies to books; newspapers; magazines; residues and waste of industrial foodstuffs and animal feed, excluding dog or cat food; electronic publications of visual and audiobooks, except for publications intended solely or primarily for advertising purposes and publications consisting entirely or exclusively of video or audio music content; the supply of electricity and gas, as well as district sales. Until 30 June 2023, the super-reduced rate also applies to theatre, concert, and cinema tickets; protective masks and gloves, antiseptic products, wipes and relevant products, soap and other products used for personal hygiene purposes, ethyl alcohol, if used as raw material for the production of antiseptics; defibrillators; dialysis, hemofiltration, hemodiafiltration and plasmapheresis filters, and hemodialysis, hemofiltration, hemofiltration and plasmapheresis.

The islands of Lesbos, Chios, Samos, Kos and Leros - affected by the refugee crisis - benefit from a 30% reduction of the standard VAT rates.

Other Consumption Taxes
Excise duties are imposed on energy and electricity products (i.e. petrol, natural gas, and electricity), manufactured tobacco, alcoholic products, and coffee.
An inheritance tax of 1% to 10% is levied for close relatives and 0% to 40% for heirs on the tax value of real property.
Real property tax is also levied depending on the characteristics of the property and the total objective value of all the taxpayer's properties.
Stamp duty is levied on certain transactions at 3.6%, 2.4%, or 1.2%.
A luxury tax is imposed on owners of swimming pools and cars with engine capacity higher than 1,929 cc.

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Corporate Taxes

Company Tax
22%
Tax Rate For Foreign Companies
Resident companies pay tax on worldwide income, while non-resident companies only pay tax on Greece-sourced income, at the same rate as resident companies.
Greek branches of non-resident credit institutions are taxed at a rate of 29% if they are subject to the special “deferred tax asset” recognition provision.
Capital Gains Taxation
Capital gains are taxed as normal corporate income at the standard rate of 22%. Capital gains derived from the sale of shares in an EU subsidiary are tax-exempt in case the participation is greater than 10% and has been held for a minimum of 24 months.
Main Allowable Deductions and Tax Credits
In general, all ordinary business expenses and expenses made for scientific and technological research are deductible. The Income Tax Code includes a list of non-deductible expenses. The new code does not mention the deductibility of donations to charities, in contrast to the previous version. Consequently, Greek tax authorities have to review each donation case individually to determine if it qualifies for tax deduction, similar to goodwill provisions. Expenses linked to corporate social responsibility actions can be deducted in the year they were incurred if the company's accounting result is profitable.
Certain bad debt provisions and write-offs are deductible. According to the Greek Accounting Standards (Law 4308/2014), start-up expenses are tax-deductible within the year that they have been incurred if they do not fall within a category of assets (including tangibles and intangibles - conditions apply).

Royalties, interest, and service fees paid to foreign affiliates are deductible expenses under certain conditions. Interest deductibility is subject to restrictions.

Net operating losses can be carried forward up to five years to offset company benefits, whereas the carryback of losses is not permitted.

Other Corporate Taxes
A 0.5% capital duty on share capital increases and other special tax regimes (for shipping companies, real estate investment companies, mutual funds and coordination centres) are imposed in Greece. A 0.1% surcharge for the benefit of the competition committee applies on the contribution of capital to a public limited company.

A real estate ownership tax (ENFIA) is levied annually on property located in Greece, consisting of a main tax calculated according to the characteristics of the property and an additional tax calculated at a rate of 0.55% on the total tax value of all of the company’s property (moreover, property occupied by the company is subject to a 0.1% additional tax). For companies, there also is an annual special tax of 15% of the tax value of the property (certain exemptions apply).
Real estate transfer tax (RETT) is imposed on the value of transferred property at a flat rate of 3.09% (including the municipality surcharge). Such tax is not imposed if VAT is due on the purchase of new buildings.
Stamp duty may be imposed on certain transactions, with rates varying between 1.2%, 2.4%, or 3.6%.

Social security contributions are due on salary and benefits in cash or in kind granted by an employer to its employees. For the primary social security fund (EFKA), social security contributions are withheld at 13.87% at the level of the employee and at 22.29% at the level of the employer (capped at EUR 6,500/month). Furthermore, employers are liable to submit payroll withholding taxes on monthly salary payments under a Pay-As-You-Earn system (PAYE).

Other Domestic Resources
Directorate General for Taxation of the Hellenic Ministry of Finance

Country Comparison For Corporate Taxation

  Greece OECD United States Germany
Number of Payments of Taxes per Year 8.0 10.1 10.6 9.0
Time Taken For Administrative Formalities (Hours) 193.0 163.6 175.0 218.0
Total Share of Taxes (% of Profit) 51.9 41.6 36.6 48.8

Source: Doing Business, Latest available data.

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Individual Taxes

Tax Rate

Individual Income (salaries, pensions, and business profits) Rate
Below EUR 10,000 9%
From EUR 10,001 to EUR 20,000 22%
From EUR 20,001 to 30,000 28%
From EUR 30,001 to 40,000 36%
Above 40,000 44%
The special solidarity contribution imposed annually on income earned by individuals is abolished for all income earned as from 1 January 2023
Income derived from real estate
From EUR 0 to 12,000 15%
From EUR 12,001 to 35,000 35%
Above EUR 35,000 45%
If a building upgrade program does not include or will not include improvements in energy efficiency, functionality, and aesthetics, an incentive is available. Specifically, from January 1, 2020, to December 31, 2024, an income tax reduction of 40% of the related expenses will be granted.
Allowable Deductions and Tax Credits
The income tax is reduced based on certain expenditures for annual personal living. The maximum amount of tax reduction (applicable to salaried and pension income) is EUR 777 for income up to the maximum of EUR 12,000 for a single person or for a married person with no dependants (plus EUR 33 for a married person with one dependant, EUR 123 for a married person with two dependants and EUR 243 for a married person with three dependants, EUR 563 in case of four dependants and EUR 220 for each additional dependant). For salaried and pension income above EUR 12,000, the amount of tax deduction is reduced by EUR 20 for every EUR 1,000 of income.

Tax reduction on employment income is provided if a taxpayer pays 30% of the actual income from salaried employment, pensions, and business for the purchase of goods or services in Greece or in the EU/EEA using an electronic means of payment (if payments for income and real estate tax as well as for loans to financial institutions and rentals exceed 60% of the taxpayer's actual income, the threshold is reduced from 30% to 20%).

Certain expenses can be deducted from the gross income, including mandatory social security contributions and donations to certain charitable organisations (20% of the value of donations to the extent that the total amount of donations during a tax year exceeds EUR 100,00 and does not exceed 5% of the taxable income).

Special Expatriate Tax Regime
Personal income tax is payable by all individuals earning income in Greece, irrespective of citizenship or place of permanent residence. Non-residents are taxed only on Greece-source income.

A special tax regime for expatriates who intend to stay in the country for at least two years was introduced with Law 4758/4.12.2020. Subject to conditions, such individuals are exempted from paying income tax on 50% of their Greek source employment income or freelancer income (applicable for a maximum of 7 years).

Under the new alternative taxation regime for foreign pensioners relocating to Greece, individuals will be subject to an annual flat tax rate of 7% on total foreign-source income (applicable for a maximum of 15 years, conditions apply).

Furthermore, investors can opt to be taxed based on an annual flat tax of EUR 100,000 on their total foreign-sourced income (applicable for a maximum of 15 years).

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Double Taxation Treaties

Countries With Whom a Double Taxation Treaty Have Been Signed
List of the double taxation treaties signed by Greece
Withholding Taxes
Dividends: 0% (if the dividend distribution falls under the purview of the EU directive on the common system of taxation applicable in the case of parent companies and subsidiaries of different Member States); 5% (dividends received on or after 1 January 2020)
Interest: 15%,
Royalties: 0% (resident corporations)/20% (individuals and non-resident corporations)
Bilateral Agreement
Spain and Greece signed a Double Taxation Treaty.

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Actualitzacions: November 2023

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