HomePage | Contact Us | About Us

Web worldwide-tax.com

New Tax on High Income Taxpayers March 2009 The Greek finance minister Yannis Papathanassiou presented on March 18, 2009 a new nine step plan aimed to boost growth, promote stability of public finances and support the income of weak social groups. According to the new measures rich taxpayers will pay an additional tax levy according to their declared 2007 income. The levy will be EUR 1,000 for income of EUR 60,000- EUR 80,000, EUR 2,000 for income of EUR 80,000- EUR 100,000, EUR 3,00 for income of EUR 100,000-EUR 150,000 and EUR 5,000 for income above EUR 150,000. Greece 2009 new tax rates September 2008 According to a bill released by the Greek Finance Ministry some significant changes are expected from 2009 for legal entities and individuals. The corporate income tax rate, currently 25%, is expected to be reduced by 1% each year in the years 2010-2014. down to 20% in 2014. Dividends paid by Greek companies, including payments to non-residents, will be subject to 10% tax withholding. For individuals, self employed will have to pay 10% tax on the first EUR 19,500 income which is currently tax exempt. The tax rate for the middle tax bracket would go down in the years 2010-2014, from 25% to 20%. The finance ministry is also considering a 10% capital gain tax on sale of listed shares. Currently such gains are subject only to a flat 0.15% transaction tax. Greece 2008 Tax Rates June 2008 There are no significant changes in the Greek 2008 tax rates, compared to 2007. For individuals, the 27% and 37% tax rates replace the 2007 rates of 29% and 39%. From March 2008 the custom authorities no longer issue receipts for cash brought at the entry point to Greece. Investors are advised to use bank transfers. Greece Income Tax January 2007 From 1.1.2007 Greece's new corporate tax rate is 25% (previous rate-29%). Individual income tax rates for 2007 are progressive, 15%, 29%, 39% and 40% fore income over EUR 75,001. Greece Income Tax January 2006 From 1.1.2006 the new corporate tax in Greece is 29% (previous rate-32%). Greece V.A.T April 2005 From 1.4.2005 the new standard v.a.t. rate in Greece is 19% (previous rate - 18%). There are reduced v.a.t. rates of 9% and 4.5%.(previous rates - 8% and 4%). Greece Income Tax August 2004 Greece's finance minister announced that Greece's corporate income tax rate will be reduced to 25% within the next 3 years.

© All copyrights reserved