close
Share with your friends

Greece: Tax law measures for corporations and individuals

Greece: Tax law measures for corporations, individuals

Newly enacted law 4714/2020 includes tax measures concerning the taxation of legal entities and individuals.

1000

Related content

Concerning the taxation of legal entities, the new law reflects a reduction of income tax advance payments (estimated payments); incorporation of hybrid mismatches resulting from payments regarding financial instruments (anti-tax avoidance EU directive, ATAD 2); and the transposition of the exit tax rules (ATAD2).

The new law includes indirect tax amendments such as changes to the value added tax (VAT) rate for books (6%) and tickets for sports events (13%). The “quick fixes” VAT regime is also transposed into the Greek VAT regime.

For individual taxpayers, there are reduced rates and an alternative tax system for foreign-source income, and an employment tax exemption for “free shares” (share provided within the framework of a share plan). Another measure provides favorable tax treatment of capital gains realized from stock options and on free shares.

Other measures concern the tax dispute out-of-court resolution and the mandatory automatic exchange of information on reportable cross-border arrangements.


Read an August 2020 report [PDF 411 KB] prepared by the KPMG member firm in Greece

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal