News: Greece Reduces Profit Tax

On September 7, the Greek government adopted several amendments to the tax code. In particular, the profit tax rate will be changed. Until 2019, it has been 28%. However, after the new law entries into force, it will drop to 24%.

Besides, many important amendments have been adopted for businesses and individuals. Dividend taxes will amount to 5%, instead of 10%, as it was before. The tax scale has changed, a 9% rate has been added for individuals whose income reaches 10 thousand euros. The government also suspends capital gains taxes on real estate transactions.

The new tax rules in Greece will enter into force on January 1, 2020. Also, in mid-2020, a law on reducing pension contributions will also be enacted. In the future, it is also planned to reject the solidarity tax.

Law&Trust offers its services to individuals and legal entities that work in Greece. Our experts will advise you on the specifics of tax legislation and tell you about all the changes for business.