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Greek Tax Amendment: Tax relief for corporate dividends from 11 countries

According to the circular of the Governor of the Independent Authority for Public Revenue (IAPR) Greek taxpayers will pay very low or possibly no tax for dividends received from companies based in 11 foreign countries.
In the case of a regular dividend, the State of residence of the shareholder may tax dividends arising in the other State. On the basis of this, Greece taxed dividends from abroad with 15%. However, Greece has to credit against its own tax on those dividends the withholding tax paid in the State in which the dividends are derived at the rate laid down in the relevant provisions of the relevant convention in respect of dividend taxation.
The Secretary General of the General Secretariat for Public Revenue issued a Circular according to which the double taxation regime for dividends is being extended to 10 more countries, namely Albania, Armenia, Georgia, Estonia, England, China, Latvia, Uzbekistan, Lithuania and Slovenia.
The Greek recipient of the dividends has the right to credit against the Greek tax not only the withholding tax on foreign dividends but also the foreign corporation tax attributable to the dividends distributed.
Following the offsetting of corporation tax on distributed dividends and withholding tax on dividends abroad, with the corresponding tax on dividends in Greece, the investor may not pay an additional tax in Greece or the tax burden may be minimal.

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