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Tax NEWS / ALERT!

Do you know what is happening in Greek Tax Legislation?


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 Extension granted for the submission of the Tax Compliance Reports (Tax Certificates) and Summary  Information Tables!

Ministerial Circular (POL.1187/2013),  deadline for  submission of the Tax Certificates extended until 30th of September 2013. 

Based on Law 4172 passed on 19.7.2013, the deadline for the submission of the Summary  Information Table is extended until 16 August 2013.

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Reduced VAT rate reintroduced on restaurant services, takeaway foods and packaged meals!

A new law issued on 27.07.2013 (Law No. 4172/2013) reintroduces the reduced VAT rate of 13% on restaurant services, the supply of takeaway foods and the delivery of prepared packaged meals. The new rate applies on a temporary basis from 1 August 2013 through 31 December 2013.

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Extension granted to file annual corporate income tax return!

Deadline for filing the annual corporate income tax return is extended to 28 June 2013, regardless of the last digit of the company’s tax ID number

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Extension granted for filing the special annual Real Property Tax Return!

According to the decision, the deadline for filing the special annual real property tax return, provided in Law 3091/2002 is extended to 21 June 2013, irrespective of the last digit of the company’s tax ID number. 

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Extension granted for filing the annual VAT return!

According to the decision, the final date for the electronic filing of the annual VAT return for the FY12 (for the cases that was originally scheduled to expire today, 20 May 2013) is set to 10 June 2013, under the condition that any VAT payables stemming from provisional returns will be paid up in total until 4 June 2013. 

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Guidance issued on tax treatment of capital gains on sale of sovereign and corporate bonds!

Greece’s Ministry of Finance has issued guidance (Circular POL 1102/2013) on the capital gains tax treatment of the sale of sovereign and corporate bonds. The circular applies only to the taxation of Greek residents; separate guidance will be introduced to address the taxation of nonresidents.   

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Deadline for the filing of tonnage tax return is extended!

The deadline for filing the annual tonnage tax return by ships flying foreign flags and payment of ¼ of the tax due is extended to 31 May 2013. (POL 1097/2013).

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Changes made to establishment process applicable to foreign shipping companies!

Law 4150/2013 introduces some changes to the establishment procedure applicable to branches of foreign shipping enterprises in Greece under article 25 of Law 27/1975.

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Extension granted for filing annual corporate income tax return!

The Ministry of Finance has issued a decision (POL.1098/8.5.2013) that grants an extension for companies to file their annual income tax returns.3

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Shipping tax provisions of law 4141/2013!

Provisions related to the shipping taxation are embedded in law 4141/2013

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Social Security Compliance Certificate requirement introduced!

The Greek parliament ratified a bill on 9 April 2013 that will introduce a social security compliance certificate that is similar to the tax compliance certificate. Publication in the Government Gazette is still pending.   

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Tax highlights from the new law - Refund procedure under POL1058/2013!

By virtue of new L. 4143/13 the following amendments in corporate income tax, individual taxation and VAT were introduced.

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Tax highlights - Refund procedure!

By virtue of new L. 4143/13 the following amendments in corporate income tax, individual taxation and VAT were introduced:

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Tonnage tax return for foreign flag ships extended!

The Ministry of Finance and the Ministry of Maritime issued a joint Circular (POL 1050/2013) communicating that the deadline for the filing of the annual list, provided for by art. 24 of Law 4110/2013 is extended until April 15, 2013. The said Circular grants also an extension until April 29, 2013 for the filing of the tonnage tax return and the payment of the ¼ of the tax due.

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Guidance issued on Tonnage Tax !

The Ministry of Finance has issued the much-anticipated guidance on the imposition of tonnage tax on vessels flying foreign flags and managed through an office established in Greece under article 26 of Law 27/1975.  The deadline for filing the first tonnage tax return and payment of 25% of the tonnage tax has been extended to 29 March 2013

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Favorable import VAT rules to attract foreign businesses !

Greece’s Ministry of Finance has proposed the introduction of a beneficial VAT regime to encourage foreign businesses to use Greece as the entry point for their goods that originate from third countries. The regime would apply at the time the goods are imported and when the goods are subsequently delivered within Greece.eece’s Ministry of Finance has proposed the introduction of a beneficial VAT regime.

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Tax NEWS – January 2013 !

The Ministry of Finance issued a Press Release communicating that the deadline for the filing of the real property revaluation return, in accordance with the provisions of Law 2065/1992 is extended until 28 February 2013.
 
It is noted that the deadline was due to expire tomorrow, 31 January 2013.

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Tax NEWS – January 2013 !

The Greek Parliament has approved a tax bill that makes significant and far-reaching changes to the tax rules. The new measures, which will affect companies and individuals, include tax rate changes, deductibility of expenses, computation of depreciation charges, changes in the Transfer Pricing legislation, changes in tonnage tax etc.

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