Our Greek tax accounting professionals are experts in local Greek tax laws, assisting you to determine whether you are a Greek resident for tax purposes, or a foreign tax resident. The Greek international community is substantial, with Greek social clubs and Hellenistic societies throughout Australia, America, the United kingdom.
Considering the international Greek population, our Greek taxation professionals have assisted expats from Europe, the Americas and the Asia Pacific looking to understand their Greek taxation requirements.
How to determine if you are a resident of Greece
According to Greek tax legislation, numerous factors are considered in determining whether you are a Greek resident for tax purposes or not. Our Greek law professionals are experts at determining which applies to your situation.
You are generally a tax resident of Greece if:
- Your permanent home is in Greece
- If you have lived in Greece for a period longer than 183 days within a twelve-month period (the fiscal year). The 183-day period is tallied in total days residing in Greece during the fiscal year, and not consecutively.
For cases where a client is also considered a tax resident of Greece as well as another country, such instances become highly complex and must be dealt with by an experienced international tax professional to determine the differing double tax treaties Greece has with 56 other countries.
When is the Greek tax year
Similar to other European countries, the Greek tax year runs simultaneously to the Gregorian calendar year. For Greek expats born or living in countries where the tax year differs from January 1st to December 31st, it is important to be organised and not forgetful when dealing with different tax years and lodgment deadlines.
Filing of tax returns for Greek tax residents can be filed up to April 30 for the previous fiscal year. If you are declaring business income as part of your tax return and you are considered an individual taxpayer, you must pay income tax in full, according to the income earned.
Lastly, tax authorities will calculate the amount after deductions of the advanced payment received. With income tax, liability payments are generally paid in three instalments.
Differing tax types in Greece
For Greek expats and Greek residents living abroad looking for information on different tax types in Greece, our professional Greek tax accountants can provide you with the information you need to understand your Greek tax obligations — or your future tax obligations in Greece if you are a non-Greek resident looking to become a Greek resident.
Different tax types in Greece include:
- Income tax
For Greek resident employees or businesses, it is the employer in Greece that is required to calculate and deduct the correct tax from salaries each month - Capital Tax
Capital gained from Interest, royalties, lottery winnings, inheritance, or immovable asset transfersare taxed between 10-20% depending on the source. - Value added tax (VAT)
Vat tax is payable for product and service prices in Greece. The Greek VAT rate is 24%, with certain services in Greece allowing for a reduction in the percentage - Social security tax
For social security, employers are required to contribute 25.06% of the salary. While the employee is required to contribute 16%.
Tax planning for Greek Expats and Greek residents overseas
Our expert business and income tax professionals in Greece are experts at tax planning for Greek expats and Greek residents living overseas or returning to Greece. We can assist you from any country in the world, and have local Greek offices in Athens, Thessaloniki, Crete. Including offices in every local jurisdiction in Greece.