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Greece

Taxes

If you want to set up a company in Greece, this article explains the tax laws for a LLC which is the most common legal entity in Greece.

Greece resident companies are taxed on their worldwide income. The predominant estimated tax rate for offshore income, from our research, but seek professional advice, is 29%. Greece may not have exemptions to transfer in income earned abroad. Corporate Income effective tax rate in Greece is 29%. This ranks Greece as 133th when compared to CIT globally.

The valued added tax rate in GR is 24.00%, that ranks Greece as 168th when compared to VAT taxation rate internationally. In terms of other taxation, an employer will contribute 25.06% to the equivalent of a social security fund and an employee will contribute 16%. The overall complexity of the tax system is low. This is measured by average time to comply with a country's labor tax requirements is as it is 46hours. Contributing to this is the number of yearly labor tax payments, which is 1 in GR.

Thin capitalization mandates are officially enacted. Thin capitalisation refers to any sort of requirements on companies' debt-to-asset ratios. Dividends are considered taxable income. However, an exemption may apply for dividends received from domestic or EU subsidiaries, provided that recipient holds at least 10% of subsidiary shares for at least 24 months. Dividends are payments of earnings of the legal entity, established by the board of directors, to a particular class of shareholders. Dividends can be issued as shares of stock, cash payments, or other property. Capital Gains are included in Corporate taxable income, and subject to 29% tax rate. A capital gains tax is levied on the profits that a corporation or natural person realizes when he or she sells sells a capital asset for a price that is higher than the purchase price.

The interest withholding tax rate is estimated at 15%. This should be interpreted usually that the taxman expects relevant legal entities to automatically withhold 15%of payments offshore for for interest payments. The dividends witholding rate is 15%. This should be interpreted usually that the relevant tax authorities expects relevant legal entities to pay tax on at least 15% of payments abroad for dividend payments. The royalties withholding tax rate is 20%. Which means that the taxman expects LLCs to automatically withhold 20% of money remitted abroad for royalty payments. Exemptions and Reductions may apply under the EU participation exemption and under tax treaties.
There is no known tax on wealth in Greece. There are inheritance, transfer and real property taxes in Greece. We are aware of widely used credits for innovation spend that include breaks on taxation here.

The above is not tax or legal advice for your company tax obligations. Incorporations.io can to help you to find a lawyer in Greece who can properly advise you. Contact us today. Click the free consultation button above.

Country details

Greece
EUR
Athens
Europe
el-GR, English, French (Standard)
11,000,000

Tax treaties

Country Type Date Signed
Mexico DTC  2004-04-13
Finland DTC  1980-01-20
Israel DTC  1995-10-24
Slovenia DTC  2001-06-05
Spain DTC  2000-12-04
Netherlands DTC  1981-07-16
Azerbaijan DTC  2009-02-16
Romania DTC  1991-09-17
India DTC  1965-02-11
Moldova, Republic of DTC  2004-03-29
Bulgaria DTC  1991-02-15
Croatia DTC  1996-10-18
Serbia DTC  1997-06-25
Malta DTC  2006-10-13
Uzbekistan DTC  1997-04-01
Kazakhstan DTC  2002-03-27
Egypt DTC  2004-11-27
Estonia DTC  2006-04-04
Guernsey TIEA 2010-10-08
France DTC  1963-08-21
San Marino DTC  2013-06-26
Germany DTC  1966-04-18
Czech Republic DTC  1986-10-23
Armenia DTC  1999-12-05
Norway DTC  1988-04-27
Russian Federation DTC  2000-06-26
Lithuania DTC  2002-05-15
Korea, Republic of DTC  1995-03-20
Belgium DTC  2004-05-25
Kuwait DTC  2003-03-02
Latvia DTC  2002-03-27
Slovakia DTC  1986-10-23
Italy DTC  1987-09-03
South Africa DTC  1998-11-19
Albania DTC  1995-07-14
Portugal DTC  1999-12-02
Canada DTC  2009-06-29
Austria DTC  2007-07-18
Sweden DTC  1961-10-06
Qatar DTC  2008-10-26
United States DTC  1950-02-20
Iceland DTC  2006-07-07
Denmark DTC  1989-05-18
United Arab Emirates DTC  2010-01-18
Morocco DTC  2007-03-20
United Kingdom DTC  1953-06-25
Saudi Arabia DTC  2008-06-19
Ireland DTC  2003-11-24
Hungary DTC  1983-05-25
China DTC  2002-06-03
Georgia DTC  1999-05-10
Turkey DTC  2003-12-02
Tunisia DTC  1992-10-31
Cyprus DTC  1968-03-30
Luxembourg DTC  1991-11-22
Switzerland DTC  1983-06-16
Ukraine DTC  2000-11-06
Poland DTC  1987-11-20
Cook Islands TIEA 2013-02-12
Gibraltar TIEA 2013-01-31

Tax treaties Map

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Disclaimer

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