Greece: CbC reporting measures are enacted | KPMG | BE

Greece: Country-by-country reporting measures are enacted

Greece: CbC reporting measures are enacted

Law 4484/2017 (published 1 August 2017) implements EU Council Directive 2016/881 into Greek law and provides for country-by-country (CbC) reporting and the mandatory automatic exchange of information in the field of taxation.

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The Greek legislation includes requirements for certain multinational groups to file CbC reports and sets forth the information to be provided in a CbC report. The date for filing the first CbC report is 12 months of the last day of the reporting fiscal year (that is, for calendar year taxpayers, for 2016, the due date of the CbC report is 31 December 2017).

 

Read a 2017 report [PDF 707 KB] prepared by the KPMG member firm in Greece that details the measures of the CbC bill (as introduced in the Greek parliament). 

 

The legislation was approved and published on 1 August 2017. Read an August 2017 report [PDF 111 KB] prepared by the KPMG member firm in Greece. The only significant change made to the final law (as compared to the bill) is an increase to the amounts of penalties for non-compliance with the CbC reporting requirements.

  • Non-filing of the CbC report is subject to a penalty in an amount of €20,000 (as compared to €10,000 as proposed in the bill).
  • Late filing or filing an inaccurate CbC report is subject to a penalty of €10,000 (as compared to €5,000 as proposed in the bill).

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