Taxes in Greece
The Hellenic Republic is located in the southern part of Europe and occupies the Balkan Peninsula and some other islands. The population of the state is 10 people. The capital, Athens, is the tourist center of Greece.
Greece is a developed country belonging to the industrial-agrarian type. Despite the fact that the 2008 crisis put the state in a very difficult financial situation, today the following sectors are actively developing in it:
- industry (chemical, textile, building materials, mechanical engineering);
- Agriculture;
- tourism;
- IT technologies;
- services sector.
Thanks to competent financial and economic policies on the part of the government, which is doing everything possible to attract investment, many global corporations and businessmen who want to open a business in Greece.
Tax rates in Greece quite high, but the taxation of this jurisdiction is flexible and provides various programs for business that allow you to work efficiently.
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Features of the Greek tax system
In order to speak correctly about Greece taxes, It is worth first clarifying who should pay them. Legal entities conducting commercial activities in the territory of this state are divided into 2 groups:
- residents - those who have registered a business in the jurisdiction and work here;
- non-residents are legal entities located outside Greece, but operating on its territory.
This is an important point, since when calculating the basic income tax, the object of the tax is taken into account. For residents, this is all worldwide income received; for non-residents, this is income received in the jurisdiction.
- The standard income tax rate is 26%.
- VAT - value added tax in Greece has three rates:
- 23% is the standard percentage applicable to most goods and services;
- 13% - reduced rate for transport services and certain types of food products;
- 6,5% is a low percentage that is levied on goods classified as essential.
- Dividend tax - the tax rate on dividends depends on the source:
- if payments are received from a resident, then the rate is 10%;
- if payments come from a non-resident - 26%.
- Interest tax:
- if a resident receives a percentage of the investment, the rate is 15%;
- if non-resident - 33%.
The Hellenic Republic has signed an agreement with a number of other states to prevent double taxation, which in some cases is a reason for exempting a business from taxes, provided that they were paid in another state.
