Greece Country Profile | KPMG | GLOBAL
Share with your friends

Greece Country Profile

Greece Country Profile

Key tax factors for efficient cross-border business and investment involving Greece.


Related content

business people standing in a modern courtyard

EU Member State


Double Tax Treaties

Albania Estonia Luxembourg Slovakia
Armenia Finland Malta Slovenia
Austria France Mexico South Africa
Azerbaijan Georgia Moldova Spain
Belgium Germany Morocco Sweden
Bosnia and
Hungary Netherlands Switzerland
Bulgaria Iceland Norway Tunisia
Canada India Poland Turkey
China Rep. of Ireland Portugal UAE
Croatia Israel Qatar UK
Cyprus Italy Romania Ukraine
Czech Rep. Rep. of Korea Russia US
Denmark Kuwait San Marino Uzbekistan
Egypt Latvia Saudi Arabia  
  Lithuania Serbia  

Forms of doing business

  • Société Anonymes (AE) companies
  • Limited Liability companies (EΠE)
  • Private Capital Companies (IKE)

Legal entity capital requirements

For AE companies: EUR 24,000.
For EPE companies: No minimum capital requirements exist.
For IKE companies: EUR 1.

Residence and tax system

A company is resident either if it has been established in accordance with Greek law, or its registered address or its place of effective management is in Greece. Resident companies are taxed on their worldwide income. Nonresident companies are taxed only on their Greek source income.

Compliance requirements for CIT purposes

Filing of annual income tax returns. Recording of entries in accounting books. Fiscal year is the calendar year or period ending on 30 June, unless majority foreign parent has different year end and opts to use this.

Tax rate

The standard corporate income tax rate is 29 percent

Withholding tax rates

On dividends paid to non-resident companies

A 15 percent dividend WHT applies on distributed profits. An exemption from dividend WHT is available if the EU Parent-Subsidiary Directive applies (based on the conditions mentioned below for inbound dividends) or could be reduced based on available double tax treaties. The EU Directive applies in relation to outbound dividends paid to EU entities if the following two conditions are met by the EU Parent Company:

  • Participation requirement: 10 percent;
  • Minimum holding period: 24 months.

On interest paid to non-resident companies

A 15 percent WHT applies (exemption applies subject to certain conditions).

On patent royalties and certain copyright royalties paid to non-resident companies

A 20 percent WHT applies (exemption applies subject to certain conditions).

On fees for technical services

20 percent

On other payments

20 percent

Branch withholding tax


Holding rules

Dividend received from resident/non-resident subsidiaries

Dividends are exempt (100%) if

  • The receiving resident company has at least a 10 percent holding in the capital or voting rights of the distributing company
  • The holding is maintained for at least 24 months and
  • The distributing company is not resident in a ‘non-cooperative’ state

Capital gains obtained from resident/non-resident subsidiaries

The sale of shares by a Greek company is subject to Greek corporate income tax, subject to possible exemptions under treaties.

Tax losses

The carry-forward period for losses is 5 years.

Tax consolidation rules/Group relief rules


Registration duties

Capital concentration tax of 1.1 percent applies on the nominal share capital for capital increases of Greek AE legal entities and 1 percent for capital increases of Greek EPE legal entities and on contributed capital of branches of non-EU resident entities.

Transfer duties

On the transfer of shares

0.2 percent stock exchange transaction duty applies on the sale/transfer of shares listed on the Athens Stock Exchange.

On the transfer of land and buildings

VAT is imposed on the transfer of new buildings (for which construction licenses were issued or amended after January 1, 2006) at the rate of  24 percent, on condition that they are to be used for the first time by the purchaser.  

Following this first transfer, every subsequent transfer is subject to real estate transfer tax at the rate of 3 percent. A local authority surcharge, equal to 3% of the transfer tax, is also levied. For legal entities, capital gains from the sale of real estate are taxed as business profits at the standard tax rate.

Stamp duties


Real estate taxes

The ownership of real estate is subject to the Unified Real Estate Ownership Tax (UREOT), which comprises a main tax and a supplementary tax. The main tax on buildings ranges from EUR 2 to EUR 13 per square meter depending on their location/tax zone, multiplied by certain coefficients depending on the building’s age, etc. The main tax for plots of land located within city limits or zoned areas ranges from EUR 0.0037 to EUR 11.25 per square meter depending on their location/tax zone. The main tax for plots of land located outside city limits or zoned areas is EUR 0.001 per square meter, multiplied by certain coefficients depending on their use, whether they are irrigated, etc. The main tax is increased fivefold, if there is a building on the land. A supplementary tax is imposed on all real estate owned by legal entities at the rate of 0.55 percent of the objective tax value.

Controlled Foreign Company rules


Transfer pricing rules

General transfer pricing rules

Yes. Intragroup transactions (domestic and cross border) should follow the arm’s length principle in accordance with the OECD guidelines. Profit adjustments may result.  

Documentation requirement?


Thin capitalization rules


General Anti-Avoidance rules (GAAR)


Specific AntiAvoidance rules/Anti Treaty Shopping Provisions

Business transactions/transformations etc. should be supported by a valid and solid business rationale to mitigate risk that the tax authorities consider that a transaction is being carried out for tax avoidance purposes. Transfer Pricing, Controlled Foreign Company and Thin capitalization rules are applicable. There are no Anti-Treaty Shopping provisions.

Advance Ruling system

Yes. Rulings can be obtained, but are not binding although they are generally adhered to by tax authorities. They are not subject to the payment of a fee.

IP / R&D incentives


Other incentives

Some investment incentives are available.


The standard rate is 24 percent. There are reduced rates of 13 percent and 6 percent for certain goods/services.

In 2017, the standard rate for certain remote Greek islands in the Aegean sea is 17 percent.

Other points of attention


Contact us

Angela Iliadis

KPMG in Greece

T: +30 210 60 62 116


Connect with us


Request for proposal