Corporate Tax in Greece

Overview by
Tax Base For Resident and Foreign Companies
Greek corporations are subject to income tax on their worldwide annual income. Foreign entities are taxable in Greece only on their Greek-source income. In addition, where such entities maintain a “permanent establishment” in Greece, they are taxed on income attributed there too. Generally, corporations’ gross income is reduced by their allowable expenses for the purpose of arriving at their net income. The tax rate applies on corporations’ net income.

Tax Rate

Corporate tax rate 23%
Tax Rate For Foreign Companies
The corporation is subject to tax on its worldwide income at the place where it is resident for tax purposes. The residence criterion in Greek law is in theory that of effective management, which does not necessarily coincide with the location mentioned as seat in the Articles of Association. However, it should be noted that Greek Tax Authorities do not, in practice, go beyond the seat stated in the Articles of Association. In addition, income tax liability may arise in a foreign jurisdiction in which a corporation is either engaged into business activities or generated foreign source income on the basis of the applicable Double Taxation Treaties and the foreign tax legislation. In such event, only pro fits attributable to the permanent establishment shall be subject to tax in the foreign jurisdiction. It should also be noted that even in the case no permanent establishment is maintained in a foreign jurisdiction, tax liability may take the form of withholding tax, VAT, gift tax, etc.
Capital Gains Taxation
A capital gain in Greece is added to regular income and is taxable at the same rate as regular income for a company: 23%
Main Allowable Deductions and Tax Credit
There is no exhaustive listing of deductible business expenses in Greek tax law. In principle, all business expenses are deductible to the extent they fulfill the criteria set by the law.
For more information consult Deloitte Tax Guide.
Other Corporate Taxes
Capital gains Taxation, Real Estate Transfer Tax, Real Estate transfert Duty, etc.

Country Comparison For Corporate Taxation

  Greece OECD United States Germany
Number of Payments of Taxes per Year 10.0 14.2 11.0 16.0
Time Taken For Administrative Formalities (Hours) 224.0 199.3 187.0 215.0
Total Share of Taxes (% of Profit) 47.2 43.0 46.8 48.2

Source: Doing Business

Note: *The Greater the Index, the More Transparent the Conditions of Transactions. **The Greater the Index, the More the Manager is Personally Responsible. *** The Greater the Index, the Easier it Will Be For Shareholders to Take Legal Action. **** The Greater the Index, the Higher the Level of Investor Protection.

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