New tax legislations, introducing the special tax regimes for individuals in Greece, have been recently ratified by the Greek Parliament.
In an effort to attract high net worth individuals, an alternative taxation on foreign source income earned by individuals (and/or their relatives and spouses) who transfer their tax residence to Greece is established.
Moreover, to attract foreign pensioners, the alternative taxation regime on foreign source income earned by individuals who transfer their tax residence to Greece is expanded. In particular, the new provisions provide the option to foreign pensioners to benefit from the alternative taxation of their total foreign source income.
In addition, to attract tax residents to Greece and further to the special tax regimes which have already been introduced, a new regime of alternative taxation for individuals who transfer their tax residence in Greece is introduced as of tax year 2021.
Such tax changes can have beneficial and positive changes on personal and organizational level, giving rise to multiple business and personal opportunities in Greece.
If you would like to explore more the great opportunities Greece has to offer to you and your business, please do get in touch with us. We will be happy to assist with the following expertise (among the wide variety proposed):
- Special tax regime analysis for specific situation
- Residence test analysis, registration, compliance
- Special tax regime eligibility test
- Greek tax compliance, including various submissions and advisory assistance (income tax, inheritance, donation etc.)
- Immigration advisory and compliance procedures.
At KPMG, we are deeply committed to supporting you in your efforts to find the best organizational and personal solutions through a dedicated team of experienced tax and legal professionals who are capable of addressing the most challenging tax matters.
If you have any queries regarding the special tax regimes impact on your business and life or are looking to explore new possibilities in residence in Greece, please contact KPMG and we will be glad to assist.
