Verified Facts
The tax rates in Greece range from 9% to 44% for personal income, with a corporate tax rate of 24%, and a standard VAT rate of 24%, while expats need to understand the country's residency rules and tax treaty network to navigate their tax obligations.
Tax laws change frequently. Always consult a qualified tax professional for advice specific to your situation. This is a general guide only.
Quick Facts
Tax System Overview
Greece has a territorial taxation system, which means that individuals are taxed on their income earned within the country, regardless of their residency status. However, individuals who are considered tax residents are subject to worldwide taxation, meaning they are taxed on their global income, not just their Greek-sourced income. To be considered a tax resident in Greece, an individual must have their permanent home in the country, or spend more than 183 days in Greece within a calendar year.
The Greek tax system is based on the principle of self-assessment, where taxpayers are required to file their tax returns and pay their taxes on a voluntary basis. The tax authorities may conduct audits to ensure compliance with tax laws and regulations. Taxpayers who are considered tax residents in Greece are required to file a tax return, even if they have no taxable income. Non-resident individuals are only required to file a tax return if they have income derived from Greek sources.
Personal Income Tax
| Income Bracket (EUR) | Tax Rate |
|---|---|
| 0 - 10,000 | 9% |
| 10,001 - 20,000 | 22% |
| 20,001 - 30,000 | 28% |
| 30,001 - 40,000 | 36% |
| 40,001 and above | 44% |
| Taxpayers in Greece are entitled to various deductions and allowances, such as a personal allowance of EUR 2,100, and deductions for mortgage interest, charitable donations, and education expenses. Tax returns must be filed by June 30th of each year, and taxpayers can file their returns electronically or by paper. Taxpayers who are required to file a tax return must also make advance payments of their tax liability, which are due in July, September, and December of each year. |
Corporate & Business Tax
- The corporate tax rate in Greece is 24%, which applies to all companies, regardless of their size or type.
- Small businesses and startups may be eligible for incentives, such as reduced tax rates or tax exemptions, under certain conditions.
- Greece has several free zones, which offer tax exemptions and other benefits to companies that operate within these zones.
- Companies must register with the Greek tax authorities and obtain a tax identification number before commencing business activities.
- Companies are required to file their tax returns and pay their taxes on a quarterly basis, with the exception of small businesses, which may file on an annual basis.
VAT / Sales Tax
- The standard VAT rate in Greece is 24%, which applies to most goods and services.
- A reduced VAT rate of 13% applies to certain goods and services, such as food, transportation, and hotel accommodation.
- A super-reduced VAT rate of 6% applies to certain essential goods, such as pharmaceuticals and books.
- Tourists may be eligible for a VAT refund on certain purchases, under certain conditions, such as purchasing goods from a registered retailer and leaving the country within a certain timeframe.
For Expats & Foreign Workers
- Tax residency rules apply to expats and foreign workers, who are considered tax residents if they spend more than 183 days in Greece within a calendar year.
- Greece has a double taxation treaty network with 57 countries, which helps to prevent double taxation and fiscal evasion.
- Expats and foreign workers may be required to register with the Greek tax authorities and obtain a tax identification number.
- Expats and foreign workers may be eligible for social security benefits, such as healthcare and pension benefits, under certain conditions.
- Expats and foreign workers must comply with remittance rules, which require them to report their income and pay their taxes on a timely basis.
- Expats and foreign workers may be eligible for tax credits, which can reduce their tax liability in Greece.
Crypto & Investment Income
- Investment income, such as dividends, interest, and capital gains, is subject to taxation in Greece.
- Cryptocurrency is considered a financial asset, and is subject to taxation as such.
- Dividends are subject to a withholding tax of 10%, which can be reduced or exempt under certain conditions.
- Capital gains are subject to a tax rate of 20%, which can be reduced or exempt under certain conditions.