Double Taxation Avoidance Agreement With Greece

The tax capacity of non-Greek residents` labour income is determined by the applicable double taxation agreement to avoid double taxation (if any). There are no exchange control restrictions. However, all money transfers abroad must be made through commercial banks in Greece. Commercial banks may request certain supporting documents (related to the authenticity of the transaction) when they authorize such transfers (as well as authorization to make transfers between residents when made through commercial banks). With respect to payments made abroad, they can even ensure that the payment is subject to withholding tax or is exempt from withholding tax. The Indian and Greek governments intend to conclude an agreement to avoid double taxation of income: the annexed agreement between the Indian government and the Greek government to avoid double taxation of income has been ratified and the instruments for ratification exchanged in accordance with Article XX of that convention. Greece has double taxation agreements with 57 countries/legal systems (a complementary double taxation agreement has been signed with Singapore but has not yet been ratified, i.e. not in force) to prevent double taxation and to allow cooperation between Greece and other tax authorities to enforce their respective tax laws. In particular, people using the alternative tax method should pay a flat tax of 100,000 euros per year, regardless of the amount of their foreign income from source. If a parent uses the corresponding provisions, they should pay a flat fee of 20,000 euros per year.

The use of these provisions must not exceed 15 tax years. Greece has not yet implemented the BEPS 13 action with regard to master files and local files, but it has implemented country-by-country reports. This commitment applies to multinational groups (MNEs) whose total total turnover exceeded 750 million euros in the previous year. Companies in these MNE groups that reside in Greece are required to inform the Greek tax authorities, no later than the last day of the reference year to which it relates, of the submission of the CbyC report on the submission of the CbyC report. As of January 1, 2020, a progressive tax scale applies to employment/retirement income, for both Greek and non-Greek tax-exempt tax brackets, as shown in the table below in euros (EUR): 1. Income from the operation of aircraft by a company in one area is not taxed in the other territory, unless the aircraft is operated in full or primarily between locations within that other area. Indirect taxation accounts for more than 40% of the state`s tax revenue. 2. The stable establishment of a territory located in the other territory is attributed to the commercial or commercial profits they are likely to make in that other territory, where it is an independent company that carries out identical or similar activities under identical or similar conditions and acts in the same way or in the same way with the company of which it is a stable establishment.

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