GSL / International Taxation / Greece

Greece tax system - taxation of Greek companies and individuals: VAT, income tax and capital gains. Tax treaties of Greece.

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Taxes of Greece

Сorporate tax
Capital gains tax
5% (dividend), 15% (interest), 20% (royalty)
Withholding tax
Exchange control

Basic taxes (briefly)

Personal tax
Corporate tax (in detail)
The rate of corporate income tax is 22%
Capital gains tax. Details
Capital gains are generally included in the general tax base
VAT. Details
The standard VAT rate is 24%. The 13% rate applies to certain types of goods and services
Other taxes
State real estate tax, Real estate transfer tax, Inheritance, gift and parental gift tax
Government fee
Stamp duty

Taxation of individuals

Tax residents are taxed on their worldwide income and non-residents on income from sources in Greece.

Income tax is levied at progressive rates.

The following rates apply to employment remuneration, pensions and commercial income:

  • 9% - on the first EUR 10 000;
  • 22% - on the next EUR 10 000;
  • 28% - for the next EUR 10 000;
  • 36% - on the next EUR 10 000;
  • 44% - on income exceeding EUR 40 000.

Income from real estate is taxed at the following rates:

  • 15% - on the first EUR 12 000;
  • 35% - on the next EUR 23 000;
  • 45% - on amounts exceeding EUR 35 000.

Special contribution of solidarity is payable at the following rates:

  • 0% - on income up to EUR 12 000;
  • 2.2% - on income between EUR 12 001 and EUR 20 000;
  • 5% - on income from EUR 20 001 to EUR 30 000;
  • 6.5% - on income between EUR 30 001 and EUR 40 000;
  • 7.5% - on income from EUR 40 001 to EUR 65 000;
  • 9% - on income from EUR 65 001 to EUR 220 000;
  • 10% - on income over EUR 220 000.

For 2020, this contribution was abolished for all types of income except labor remuneration and pensions.

For 2021, this contribution has been abolished for private sector labor remuneration.

Income tax

Corporate income tax is paid at a rate of 22%.

Capital gains are generally included in the general tax base.

Profits from the sale of shares in EU companies are exempt from taxation if the shareholding is more than 10% and the ownership lasts at least 24 months.

Dividend income is taxable. However, if a number of conditions are met, including a shareholding of at least 10% in an EU company and a holding of at least 24 months, dividends may not be taxed.

Social contributions

Social contributions are payable on employees' remuneration and depend on the social fund where the employee is registered.

EFKA social contribution rates are 14,12% for employees and 24,54% for employers. The maximum remuneration on which these contributions are payable is EUR 6 500 per month.


The standard rate of VAT is 24%.

A rate of 13% applies to certain types of goods and services.

Withholding tax

Withholding tax is levied at a rate of 5% on dividends, 15% on interest, 20% on royalties, 20% on technical, managerial, consulting and other services.

There are certain exemptions.

Tax may be withheld on certain other payments of income.

Tax rates are reduced in accordance with double taxation treaties and EU directives.

Tax on movable property (ENFIA)

This tax is composed of a basic and additional taxes calculated at specific rates based on the area of the property, applying a number of coefficients, taking into account location, type of use, etc.

Inheritance and gift tax

Inheritance tax is paid on inherited movable and immovable objects.

The tax is calculated at progressive rates from 1% to 40%, depending on the degree of kinship and several other factors.

Tax is also paid when receiving gifts, including from parents at progressive rates, depending on the value of the object, its type, as well as the degree of kinship of the parties.

Real estate transfer tax

Transfers of real estate that are not subject to VAT are subject to real estate transfer tax.

The tax rate is 3%.

In addition, an additional 3% is payable to the municipalities.

Stamp duty

Non-residential rentals are subject to stamp duty at a rate of 3,6% (except for shopping centers and logistics centers whose rentals are subject to VAT).

Stamp duty at the rate of 2,4% may be levied on loans. However, there are exceptions, in particular for bank loans and bond issues.

Stamp duty may be levied in a number of other cases.

Capital appreciation fee

A capital increase fee may be levied at the rate of 1%.

CFC rules

Undistributed profits of controlled foreign companies are included in the tax base of Greek tax residents if the following conditions are met:

The taxpayer directly or indirectly, individually or jointly with related parties, owns more than 50% of the shares, voting rights or the right to receive more than 50% of the profits of the foreign company.

The income tax paid by the foreign company is less than half of the tax that would be paid in Greece on such income.

More than 30% of the income of a foreign company is represented by passive income (interest, dividends, royalties, etc.).

These rules may not apply to companies in the EU/EEA if they have a significant economic activity with appropriate personnel and assets which can be proven accordingly.

International tax treaties

Greece has concluded 56 Double Tax Treaties (DTC) and 4 Tax Information Exchange Agreements (TIEA) with the following jurisdictions:

56 DTCs: Albania, Armenia, Austria, Azerbaijan, Belgium, Bosnia and Herzegovina, Bulgaria, Canada, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Georgia, Germany, Hungary, Iceland, India, Ireland, Israel, Italy, Kazakhstan, South Korea, Kuwait, Latvia, Lithuania, Luxembourg, Malta, Mexico, Moldova, Morocco, Netherlands, Norway, Poland, Portugal, Qatar, Romania, Russia, San Marino, Saudi Arabia, Serbia, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Tunisia, Turkey, UK, Ukraine, United Arab Emirates, USA, Uzbekistan.

4 TIEAs: Bermuda, Cayman islands, Cook Islands, Gibraltar, Samoa.

Greece has also signed and ratified the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). The MLI entered into force for Greece on July 1, 2021.

Foreign Exchange Control

Greece has no currency controls.

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