Grècia: Entorn econòmic
A super-reduced 6% rate applies to books and music books (under tariff code 4904), newspapers, magazines, theater and concert tickets, cinema tickets, electricity and gas supply, protective masks, gloves, antiseptic products, wipes, soap, and hygiene products, ethyl alcohol (if used for antiseptic production), industrial food and animal feed residues (excluding pet food, effective from October 1, 2021), defibrillators, dialysis and filtration equipment, and electronic publications of visual and audio books (excluding solely advertising or music content publications).
A reduced VAT rate of 4% is applicable to services provided under contracts for works exclusively aimed at eliminating architectural barriers that hinder the mobility of disabled individuals in public or private buildings or buildings of public interest.
The islands of Lesvos, Chios, Samos, Kos, and Leros, affected by the refugee crisis, benefit from a 30% reduction in VAT rates compared to the standard rates. This reduction, termed "super reduced VAT rates," has no time limit but may be revoked by Ministerial Decision.
Taxes, excluding income tax, extraordinary contributions, and non-deductible VAT associated with expenses, are acknowledged as deductible. However, fees from criminal activities, penal clauses, fines, and penalties are not recognized as deductible expenses.
Net operating losses can be carried forward up to five years to offset company benefits, whereas the carryback of losses is not permitted.
In Greece, real estate ownership is subject to the Uniform Tax on the Ownership of Real Estate Property (ENFIA), comprising a principal tax on each property and a supplementary tax on the total value of property rights. This tax isn't based on the objective property value but determined by factors recorded in the land registry or ownership title. The principal tax on buildings is calculated by multiplying square meters by a rate ranging from EUR 2 to EUR 16.20, with additional coefficients such as location and use. Similarly, the principal tax on land is determined by square meters and rates ranging from EUR 0.0037 to EUR 9.2500, plus location and use coefficients. A supplementary tax of 5.5‰ is imposed on the total property rights value, with self-used properties taxed at a reduced rate of 1‰.
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).
A 0.1% listed stock sales tax applies to the sale of shares listed on a Greek regulated market or multilateral trading facility, with exemptions available. The tax is based on the sale price and is paid by the seller, whether an individual or entity, regardless of citizenship, residency, or registered seat.
A uniform call rate of 80 cents per kilogram is applied to non-recycled plastic packaging waste under Council Decision (EU, Euratom) 2020/2053, implemented in Greece by L. 4783/2021. A 4-cent environmental protection levy is imposed per product on plastic packaging for food and beverages sold by catering or retail companies, considering plastic covers or lids separately.
The hospitality sector is subject to a climate crisis mitigation duty per day and per room or apartment for accommodations including hotels, furnished rentals, and short-term rentals under self-catering accommodations.
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.
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. | |
Capital gains tax rate | 15% |
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).
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).
Non-Greek tax residents who qualify as foreign taxpayers and maintain residency in an EU or EEA country may benefit from Greek tax resident reliefs if (i) at least 90% of their worldwide income is generated in Greece, or (ii) they can demonstrate their taxable income is low enough to warrant tax relief in their home country.
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Actualitzacions: September 2024