Tax Alert Law 4484/2017 - implementation of the EU... | KPMG | GR

Tax Alert Law 4484/2017 - implementation of the EU Council Directive 2016/881

Tax Alert Law 4484/2017 - implementation of the EU...

Consistent with our commitment to provide current information on tax issues we inform you that Law 4484/2017 implementing the EU Council Directive 2016/881 into Greek Legislation regarding mandatory automatic exchange of information in the field of taxation was published on 1 August 2017. The only significant change introduced in the final law as compared to the bill that was submitted to parliament was to increase penalties for non-compliance with the Country by Country Reporting obligations.

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In this edition

Law 4484/2017 included all of the most important provisions of the bill as these were summarized in our Newsletter of 28 July 2017 except for penalties for non-compliance with the Country by Country Reporting obligations which were increased as follows:
 
  • Non-filing of the CbyC Report attracts a penalty of EUR 20 000 (as compared to EUR 10 000 proposed in the bill).
  • Late filing or filing an inaccurate CbyC Report attracts a penalty of EUR 10 000 (as compared to EUR 5 000 proposed in the bill).

© 2017 KPMG Accountants AE, a Greek Societe Anonyme and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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