Personal Tax in Greece
- Tax Base For Residents and Non-Residents
- Individuals domiciled in Greece are taxed on their worldwide income. Non-residents are subjects to tax on their Greek-source income. Tax exemptions are available for nonresidents from countries that have concluded a Tax treaty with Greece.
|Income tax||Progressive rate from 0% to 40%|
|For the first EUR 12,000||0%|
|From EUR 12,001 to EUR 30,000||25%|
|from EUR 30,001 to EUR 75,000||35%|
|Over EUR 75,001||40%|
- Allowable Deductions and Tax Credit
- 20% of the rent paid annually by the taxpayer in respect of his principal residence, up to 1100 EUR,
- 20% of the expense incurred for private lessons delivered to the taxpayer and/or his/her spouse and/or their children either at home or in private institutions, including foreign language courses up to 1100 EUR,
- 20% of the interest paid on mortgage-loans or loans guaranteed by means of a mortgage pre-note entered into by the taxpayer for the purpose of purchasing his/her first-ever private residence not exceeding 120 square meters,
- 20% of the total annual amount of medical and hospitalization expenses incurred by the taxpayer for the purpose of his/her own or his/her dependants’ treatment; the overall amount to be allowed cannot, however, exceed 6000 EUR.
For additional information, you can consult the PKF Tax Guide.
- Special Expatriate Tax Regime
- Individuals not resident in Greece are taxed only on their income derived from a source therein.Foreign tax residents who generate income in Greece are taxed on the basis of the abovementioned progressive tax scale; however, they receive no relief in the first bracket of income, which is taxed at 5%.
- Capital Tax Rate
- The tax rate on transfer of real estate property: 7%, 9% and the rates increase by 2% when the property is situated in an area covered by a public fire brigade. Capital gain tax: 20%, 10%, 5%, 0%.
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