Greece
Taxation in Greece
Recent forum posts
-
How Can SWOT Analysis Assignment Help Improve Your Grades?
SWOT analysis assignments require a clear understanding of strengths, weaknesses, opportunities, and threats related to a specific topic or organization. Many students struggle to analyze these components effectively, leading to lower grades. Opting for SWOT analysis assignment help from BookMyEssay can make a significant difference. Their expert writers provide well-researched, structured, and or
Total Posts: 1 Last post by imrobinhood12
-
Do you want expert law case study help?
Law, as a subject, is often a difficult career path for many students. Law Case Studies involve in-depth case studies, theoretical exploration, and constant research. The level of research effort and depth of understanding needed when writing law assignments can be very hard to balance, especially when the volume of work is relentless. The challenges of writing a law case study are exhausting for
Total Posts: 1 Last post by isabellahynes
Taxation in Greece
You will need to apply for a Tax roll number (AFM). An AFM number is required to legally work in Greece (for national insurance and tax), to rent and buy property, or to buy a car or motorcycle.
You can apply for an AFM number at the local tax office with a copy of your passport and your birth certificate. Once you have obtained an AFM number, you are registered with the tax authorities and are required to submit a yearly tax return regardless of income.
Income Tax
An individual in Greece is liable for income tax if they are resident in Greece. A self-employed individual is obliged to make advance payments on income tax by filing an annual report. In the case of a new business, the advance payments will be calculated according to the estimates of the owner of the business. Advance payments are payable three times a year.
Income tax is (in Euros):
22% on income between 1 and 20,000
29% on income between 20,001 and 30,000
- 37% on income between 30,001 and 40,000
44% on income over 40,001
Corporate Tax
Foreign companies in Greece are taxed only on income that is generated in Greece. The standard corporate tax rate is 24%.
VAT
VAT rate is 23% in most cases. With a reduced rate of 13% and a super reduced rate of 6.5%