INDIVIDUAL TAXATION
Residents are taxed on their worldwide income. Issuance of a residence permit by the Ministry of Interior is a requirement for residence. Married persons are taxed separately.
INCOME TAX
Taxable income includes (1) employment income, (2) professional income, and (3) investment income. The taxable income is generally an aggregate of all kinds of income, less income-generating expenses and applicable deductions.
INCOME TAX ON EMPLOYMENT AND PENSIONS INCOME 2020 |
| TAXABLE INCOME, € |
TAX RATE |
| Up to €10,000 |
9% |
| €10,000 - €20,000 |
22% on b22and over €20,000 |
| €20,000 - €30,000 |
28% on band over €30,000 |
| €30,000 - €40,000 |
36% on band over €30,000 |
| €30,000 - €40,000 |
44% on all income over €40,000 |
| Source: Global Property Guide |
INCOME TAX ON BUSINESS AND PROFESSINAL INCOME 2020 |
| TAXABLE INCOME, € |
TAX RATE |
| Up to €10,000 |
9% |
| €10,000 - €20,000 |
22% on b22and over €20,000 |
| €20,000 - €30,000 |
28% on band over €30,000 |
| €30,000 - €40,000 |
36% on band over €30,000 |
| Over €40,000 |
44% on all income over €40,000 |
| Source: Global Property Guide |
INCOME TAX ON REAL ESTATE 2017-2020 |
| TAXABLE INCOME, € |
TAX RATE |
| Up to €12,000 |
15% |
| €12,000 - €35,000 |
35% on band over €12,000 |
| Over €35,000 |
45% on all income over €35,000 |
| Source: Global Property Guide |
INCOME TAX ON EMPLOYMENT AND PENSIONS INCOME 2017 |
| TAXABLE INCOME, € |
TAX RATE |
| Up to €20,000 |
22% |
| €20,000 - €30,000 |
29% on band over €20,000 |
| €30,000 - €40,000 |
37% on band over €30,000 |
| Over €40,000 |
45% on all income over €40,000 |
| Source: Global Property Guide |
INCOME TAX ON BUSINESS AND PROFESSIONAL INCOME 2017 |
| TAXABLE INCOME, € |
TAX RATE |
| Up to €50,000 |
26% |
| Over €50,000 |
33% on all income over €50,000 |
| Source: Global Property Guide |
RENTAL INCOME TAX
Rental income earned in Greece is taxed at progressive rates, from 11% to 33%. Income-generating expenses are deductible from the gross income. Instead of itemized deductions, taxpayers can avail of standard deductions: 40% for income-generating expenses (with supporting invoices) and 10% for depreciation.
INCOME TAX ON REAL ESTATE 2017 - 2020 |
| TAXABLE INCOME, € |
TAX RATE |
| Up to €12,000 |
15% |
| €12,000 - €35,000 |
35% on band over €12,000 |
| Over €35,000 |
45% on all income over €35,000 |
| Source: Global Property Guide |
INCOME TAX ON REAL ESTATE 2016 |
| TAXABLE INCOME, € |
TAX RATE |
| Up to €12,000 |
11% |
| Over €12,000 |
33% on all income over €12,000 |
| Source: Global Property Guide |
INCOME TAX ON REAL ESTATE INCOME 2015 |
| TAXABLE INCOME, € |
TAX RATE |
| Up to €12,000 |
10% |
| Over €12,000 |
33% on all income over €12,000 |
CAPITAL GAINS TAX
Capital gains derived from selling real estate property are taxed at a flat rate of 20%. Taxable capital gains are calculated as selling price less acquisition costs and related expenses.
PROPERTY TAX
Real Estate Tax
State real estate tax is imposed annually on natural and legal entities that possess Grecian property. The tax base is the objective property value on 01 January as assessed by the tax authorities. Properties owned by individuals are taxed at progressive rates.
PROPERTY TAX |
| TAXABLE INCOME, € |
TAX RATE
|
| Up to €200,000 |
0%
|
| €200,000 - €5 million |
0.20% - 1%
|
| Over €5 million |
2%
|
| Source: Global Property Guide |
Local Real Estate Duty (TAP)
Local real estate duty is payable to the municipal authorities. The rate varies between 0.025% and 0.035% of the assessed value of the property.
CORPORATE TAXATION
INCOME TAX
Income and capital gains earned by companies are generally taxed at 24%. Income-generating expenses are deductible when calculating taxable income.
Real Property Tax
State real estate tax is imposed annually on natural and legal entities that possess Grecian property. The tax base is the objective property value on 01 January as assessed by the tax authorities. Properties owned by companies are generally taxed at 0.10% to 0.60%.