Greece: Tax-Efficient Sectors
Bank Lending to Mining and Shipping Companies
Interest income earned by banks on loans made to Greek mining and industrial companies is exempt from corporate income tax in Greece provided:
- The loan consists of capital specifically brought in from abroad.
- The banks are Greek banks or the Greek branches of foreign banks.
Interest income earned by a bank on a loan to a ship flying the Greek flag is exempt from taxation in the hands of the bank provided the loan is secured on the ship.