Accounting and legal

Accounting and tax

    Corporate tax rate in Greece
  1. Corporate income tax rate in Greece is levied at a standard rate of 26%. All legal entities must register with the Greece Tax Authority and file annual returns between 1st February and 30th June of the year following the end of the relevant fiscal year;
  2. Capital gains earned from the sales of shares acquired after 1st of July 2013 are subject to a corporate income tax rate of 26%;
  3. Standard VAT rate of 23% applies to all transactions. However, a reduced VAT rate of 13% and 6.5% is applicable to a certain number of goods and services;
  4. A 10% withholding tax is applicable on dividends paid to both resident and non-resident companies. A lower rate or exemption may apply if a tax treaty applies;
  5. A 29% withholding tax is applicable on i) royalties and ii) technical services fees paid to foreign entities without Permanent Establishments in Greece unless reduced where a tax treaty is applicable;
  6. A 15% withholding tax is applicable to interests paid to both resident and non-resident companies. This can however be reduced or exempt where a tax treaty applies or under the EU interest and royalties directive;
  7. Employers in Greece must submit a monthly social security contribution of 28% of their employees’ gross salary to the Greek social insurance fund;
  8. Other taxes in Greece include i) real property transfer tax at the rate of 3% on the value of the property ii) a stamp duty of 1.2% – 3.6% depending on the transaction;
  9. Individual tax rate of 22%-42% applies to all residents and non-residents working in Greece;
  10. Tax losses in Greece can be carried forward for up to 5 years. A carryback of losses is however not permitted;
  11. The Hellenic Republic of Greece is signatory to more than 50 double tax treaties with different countries including the USA, China, United Kingdom, Canada, Mexico, France, Switzerland, Germany among others;
  12. Healy Consultants will assist the Client with i) documenting and implementing accounting procedures ii) implementing financial accounting software iii) preparing financial accounting records and iv) preparing forecasts, budgets and performing sensitivity analysis;
  13. It is important our Clients’ are aware of their personal and corporate tax obligations in their country of residence and domicile; and they will fulfill those obligations annually. Let us know if you need Healy Consultants’ help to clarify your annual reporting obligations.

Contact us

For additional information on our accounting and tax services in Greece, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Grace Odhiambo, directly:
client relationship officer - Grace