Taxes - Greece

Updated 12/2011

Legal requirements

Taxation system

The following individuals are legally obliged to file a tax return:

individuals whose annual taxable income exceeds €3,000, or whose income is lower than €3,000 but includes damages from commercial companies;
sole traders;
members of a partnership;
members of an LLC.

Greece has recently introduced a number of tax measures in support of small and medium-sized enterprises (SMEs).

business transfer tax rate reduced to 2.4% for family members continuing the business;
fines for tax infringements reduced;
tripling of an individual's non-taxable limit;
gradual decrease of the tax rate from 35% to 25% for general and limited partnerships and co-ownerships;
income tax exemptions for the increase in value resulting from retirement-related transfers of businesses from parent to child or between spouses.
Taxation Laws

Administrative procedures

Submitting your tax return

The income tax return must be filed annually at the relevant tax office.

Periodic VAT declarations must be submitted:

monthly by category C bookkeepers;
quarterly by category A and B bookkeepers.

You must also file an annual VAT return statement.

You can file the periodic VAT statement either by post or electronically via the TAXISnet system. A client-supplier summary of invoices (or notes for services rendered) also needs to be submitted.