Tax Updates: April 7th, 2023
Consistent with our commitment to provide updated information on current tax issues
Consistent with our commitment to provide updated information on current tax issues
Article Posted date
07 April 2023
1 min read
Tax treatment of dividends of ship brokering and other shipping entities as per the new law 5036/2023
- According to the provisions of the new law 5036/2023 (Gov. Gazette Α΄77/28.3.2023), the dividend tax rate for dividends paid or credited in the years from 2023 onwards by ship brokering and other shipping entities of article 25 of Law 27/1975, except for ship management entities, is set at 5%.
- For dividends paid or credited in the years up to and including 2022, the dividend tax rate is 10%.
- The above-mentioned dividend tax rates do not apply to dividends distributed by shipping entities which, according to their operating licence, are engaged in the management of Greek or foreign flagged ships (we note that such dividends are tax exempt).
- Furthermore, the tax rate for extraordinary payments, bonus, etc., which are paid on top of salaries to Board members, executives, directors, and employees of the above-mentioned shipping entities, including ship management entities, shall remain 10%.
