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Greece Tax Deductions

Greece Personal Deductions







BUSINESS DEDUCTIONS


In Greece, deductions and business expenses may be claimed as specified below:
Depreciation of Fixed Assets

  -    The straight-line method is the accepted method of depreciation in Greece. In certain cases the declining balance method is allowed.
  -    The rates of depreciation in Greece:

Class of Asset % Depreciation.
Commercial / residential buildings 5 - 8
Industrial buildings 8
Machinery and equipment 15
Computers 30
Trucks and buses 20
Other vehicles 15
Office furniture and equipment 20


When the purchase price is up to EUR 1,200 , fixed assets can be fully depreciated in the first year.




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