Attractive Tax Breaks for Foreign Investors

12th July 2013

Attractive Tax Breaks for Foreign Investors are among the key provisions of the new Income Tax Code, aimed at simplifying Greece’s tax system and encouraging long-term investment in the country.

The new Income Tax Code, recently submitted to Greek parliament for further discussion and voting, constitutes an important step towards the establishment of a simpler and fairer tax scheme. It is expected the provisions of the Law to be enriched with several tax incentives by next September, facilitating business development in Greece. Some examples are tax investment allowances, tax deductions and acceleration of ongoing amortizations and depreciations.

The target of this effort is the integration of existing and new tax incentives and their overall inclusion in the Income Tax Code. Consequently, all foreign and Greek investors will be aware of the indispensable requirements for ensuring tax incentives.

In addition, all the prerequisites for the permanent or long term stay of investors in Greece will be clarified as well as the tax framework in which they will be subject to.

The Greek Government strongly believes that a lucrative tourist season can be followed by the attraction of investments of strategic importance, which may pull Greece out of the deep economic crisis.