Tax Guide April 2020
Tax Guide April 2020
Consistent with our commitment to provide updated information on current tax issues, you may find below a list of filing obligations for the forthcoming period. We emphasize that this is not a comprehensive list, but rather a list of the most common tax filing obligations.
Taxes withheld in February
- Submission of tax returns for taxes withheld on the following sources of income:
- Royalties, if the recipient is an individual or a non-resident entity with no permanent establishment in Greece.
In order for reduced withholding rates pursuant to the Tax Treaties for the avoidance of double taxation to be applied, the foreign beneficiary of the income must provide the relevant tax residence certificate.
Respectively, in order to apply the provisions of the European Directives, as adopted by local provisions, and for nil tax to be withheld on income arising for non residents for dividends, interest and royalties, a nil withholding tax return must be filed. The relevant tax residence certificate should be duly drafted upon submission.
- Submission of the withholding tax return, including any 2019 benefits in kind, and remittance of tax withheld in the following cases:
- Solidarity tax
- Board of Directors fees
- Employment severance payments
- Fees for technical services, administration and consulting fees, when the beneficiary of the income is an individual or is a non-EU resident entity.
For entities whose activities have been affected by COVID 19 or suspended by a Greek State Authority, an extension has been provided until 31 August 2020 for the settlement of withholding tax amounts due in April 2020.
By 20 April
Direct electronic filing with the Bank of Greece of transactions effected within March (collections and payments of any nature) between legal entities operating in Greece and non-residents.
By 21 April
Submission through the TAXISNET website of the list summarizing contracts and agreements concluded between entrepreneurs for the first quarter (1 January to 31 March 2020).
Obligations of enterprises arising from VAT and other indirect taxes and duties
By 15 June
Payment of stamp duty on loans that were both concluded and recorded in the accounting books, during March between entrepreneurs (merchants), commercial entities and/or third parties.
By 27 April
Submission through the TAXISNET website of the intra community transactions listings which include amounts invoiced within March, (reported by tax registration number of the counterparty established in other EU Member States), for acquisitions and supplies of goods as well as for the provision and receipt of services.
By 30 April
- Submission through the TAXISNET website of the periodic VAT return for March and payment of the amount due. The same deadline applies for submission of periodic VAT returns with a zero or credit balance. For entities whose activities have been affected by COVID 19 or suspended by a Greek State Authority, an extension has been provided until 31 August 2020 for the settlement of VAT amounts due in April 2020.
- Submission of Intrastat returns for intra-community acquisitions and supplies of goods effected during March. The obligation to submit exists only when the value of intra community transactions has exceeded the applicable annual threshold, which for 2019 is set at EUR 150 000 for arrivals and EUR 90 000 for dispatches.
Obligations of enterprises towards Social Security Funds and Labor authorities
By 30 April
- Payment of social security contributions to EFKA and other Social Security Organizations for the payroll period of March. For entities whose activities have been affected by COVID 19 or suspended by a Greek State Authority, an extension has been provided until 31 October 2020 for the settlement of any social security contributions amounts originally due in April 2020.
- Submission of the APR for the payroll period of March.
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