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Greece: Foreign Branches |
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INFORMATION: LOW-TAX AND INCENTIVE REGIMES |
The branches of foreign companies which are set up and
operate from within Greece were traditionally exempt
from all taxes in Greece provided:
- Their
commercial activities were conducted outside Greece.
- They
obtained a special permit from the Minister of the
Economy.
- They
imported a minimum of USD50,000 per annum into Greece
for the purposes of running their office; the amount
varies according to total local costs.
This regime
was included on the list of 'Harmful Tax Practices'
issued by the EU's Code of Conduct Committee. However,
offices of foreign commercial and manufacturing businesses
established on or before December 31, 2001 continued
to enjoy the exemptions until December 31, 2005.
Since then,
legislation regarding branch offices has been amended
considerably and they are no longer exempt from taxes
in Greece. Obligations to file VAT returns and corporate
tax returns are the same as those of the parent company.
Branch representatives are wholly and individually liable
for tax debts.
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INFORMATION: LOW-TAX AND INCENTIVE REGIMES |
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