Greece: Update on tonnage tax regime, tax evasion measures

Greece: Update on tonnage tax, tax evasion measures

Greece is taking steps to introduce reforms in the areas of tax policy and revenue administration under a “memorandum of understanding” reached with the European Commission.


Related content

Tonnage taxation

Concerning income tax, the Greek parliament in August 2015 approved a package of measures that would, among other items, make changes to the regime for shipping taxation.

In particular, a special “tonnage taxation” regime under law 27/1975 would now apply to certain categories of vessels flying flags of EU / EEA Member States so that these vessels would benefit from the same privileges as do vessels flying Greek flags or vessels flying a foreign flag but managed by a branch or office established in Greece.

Furthermore, the tonnage taxation rate would be increased annually by 4% for the years 2016-2020. 

Measures to address tax evasion

The Greek government committed to enhancing tax compliance and to addressing tax evasion and tax collection. The Greek authorities are to produce by November 2015 a comprehensive plan to address tax evasion that would include measures for:

  • Identifying undeclared deposits in Greece and abroad by checking bank transactions and banking institutions
  • Providing a voluntary disclosure program
  • Requesting EU Member States to provide data on asset ownership and acquisition by Greek citizens
  • Establishing a “wealth registry” to monitor the balance sheets of parent-subsidiary companies and to improve risk analysis criteria for transfer pricing items


Read an August 2015 blog prepared by the KPMG member firm in Switzerland: Greece intensifies fight against tax evasion

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal



KPMG's new digital platform

KPMG International has created a state of the art digital platform that enhances your experience, optimized to discover new and related content.