GREECE - NEW DRAFT TAX LAW RELEASED- MAIN POINTS
- Residence based taxation regime, i.e a person who has his domicile or his habitual abode in Greece is subject to tax in Greece on his worldwide income.
- Corporate tax rate for corporations, LLCs and permanent establishments is reduced to 20%. Profit distributions are subject to an additional 25% withholding tax which may be credited against the shareholder's tax liability.
- Expenses and payments made directly or indirectly to persons or entities established in tax havens are not tax deductible unless it is proven that the expenses were made for real and customary transactions and not for reasons of tax evasion. The burden of proof lies with the taxpayer.