Consistent with our commitment to provide updated information on current tax issues, we set down below a brief overview of the most important tax provisions of the new law 5162/2024.
In this edition (Download PDF)
- Tax provisions concerning individuals
- Abolition of the entrepreneurship duty for individuals (with effect from tax year 2024)
- New exemptions from employment income - amendment of article 14 of the Income Tax Code (ITC) (with effect from tax year 2024)
- Tax exemption of income of individuals from long-term leasing of real estate - amendment of article 72 ITC
- Tax incentives for development and innovation
- Extension of tax incentives for scientific and technological research (R&D) - amendment of article 22A ITC (with effect from tax year 2025)
- Extension of tax incentives for angel investors - amendment of article 70A ITC
- Extension of tax incentives for patent exploitation - amendment of article 71A ITC (with effect from tax year 2025)
- Other tax provisions
- Submission of income tax returns - amendment of articles 67 and 68 ITC (applicable to income tax returns for the tax year 2024 and onwards)
- Extension of the suspension of VAT on new building
- Extension of the suspension of capital gains tax on the transfer of immovable property
- Conditions for the contribution of securities by individuals - amendment of article 42 par.4 ITC
- Tax exemption of intra-group dividends and capital gains derived from shares of non-EU legal entities (with effect from tax year 2025)
- Tax exemption of the benefit from debt write-offs – amendment of article 21 par.6 ITC (for taxes that have to be paid as of 1 January 2024 and onwards)
- New tax framework for Closed Ended Funds (with effect from tax year 2025)
- Date of abolition of stamp duty
- Entry into force
- Tax incentives for corporate transformations
- Scope of application
- Valuation of assets and shares
- Taxation of capital gains
- Transfer of losses, depreciation, tax reserves, provisions
- Other exemptions
- Simplification of real estate transfer procedures
- Anti-abusive Rule
- Contribution of Personal Businesses or Joint Ventures
- Cross-border transformations
- Entry into force of the tax incentives for corporate transformations
