Greece Information: Low-Tax and Incentive Regimes

Greece Tax-News.com Coverage

- 25/05/2012 EU Focuses On Growth
- 17/05/2012 Hollande Eyes 'Growth Dimension' In Fiscal Compact
- 17/05/2012 Eurogroup Committed To Fiscal Consolidation
- 09/05/2012 Juncker Insists Fiscal Compact Not Up For Renegotiation
- 03/05/2012 US Issues Annual IPR Country Report

More Greece Tax News »

Greece Tax Treaty Updates from TreatyPro

Treaty Update: Greece - Azerbaijan
4/5/2012
The Greek government has recently confirmed that the DTA signed between Greece and Azerbaijan was has now been ratified, and was published in the nation's official Gazette on February 25, 2012.

More Greece Tax Treaty Updates from TreatyPro »

Greece Knowledge Base

- Greece Individual Non-Resident Taxation
- Greece Foreign Branches
- Greece Bank Lending to Mining and Shipping Companies
- Greece Ships and Ship Management Companies
- Greece Venture Capital Companies
- Greece Investments in Small Islands
- Greece Mutual Funds and Portfolio Investment Companies
- Greece Investment Incentive Allowances

Generally speaking, Greece is not an attractive location for individuals or companies seeking to limit taxation; the mainstream corporate income tax rate used to be 35%, although it was reduced in stages to 32% in 2005, 29% in 2006 and 25% in 2007. The rate in 2010 is 24% and the government plans a further 4% cut over four years, to 20% in 2014. Doubts remain as to the achievability of this plan. There are however some particular features of the Greek tax system which are attractive for certain individuals or companies in certain situations.

A new, general-purpose development incentive law was promoted by the government in 2005 and was received very warmly by the business community. In the first ten months of its implementation (end of March 2005 till the end of January 2006) 1,234 applications were submitted accounting for EUR2.47bn.

The law offers a combination of incentives and corporate tax breaks and is aimed at sectors of the economy that are open to international competition, such as tourism, information technology, financial services, and quality agricultural exports.

The law was suspended as of 29/1/2010 and, following consultation, the Ministry plans to reform the Investment Law to make it a major driver of a new development model, focussing on green development.

Lowtax Network Comment System

To ask a question or if you have an opinion you want to share: start a new thread, or reply to a thread below:

Topic: Lowtax.net General
Indian Resident: Want to open a trading company in Hong Kong? or UAE?
Hi,
I am from India. I buy goods from China and sell them all over the world. I would like to open a trading company abroad in Hong Kong or UAE so I can directly export from China without bringing goods into India. Can someone advise me how can i go about it? What would the tax implications be for me india. We have very strict Foreign Exchange Management Act (FEMA) here in india. By no means am i trying to evade tax, just it would just be convenient to directly export from China.Jilu81
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Topic: Lowtax.net General
Future of offshore trust industry
How are offshore Trust Companies doing recently with recent development of Obama's track down and Canada Revenue Agency's increased scrutiny. Are they declining in their clients and revenues? Are they consolidating or closing down? Respectively, are they kicking out Canadian and American clients or are they squeezed out from providing anonymous trusts and merely holding onto a fraction service capability as an asset protection device?

Is there a still future for offshore trust companies? Do you see this industry is set to decline permanently?



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Topic: Lowtax.net General
World-Check and similar
Dear Experts,

I am an expatriate doing business within legal scope in different countries of the world utilizing different IBC vehicles for international trading and one European Ltd Company with VAT registration for trading with/within E.C.
Lately I am being confronted with strange situations like bank acc/s in different places of the world where I am BO and/or signatory being closed withing short notice time or banks and revenue departments asking much more questions about supporting documents or nature of business than I am used to. Is there a chance to see whether my name or name of one of my vehicles might have gotten into 'red flag' worldwide databases?
I once heard about databases like WORLD-CHECK or similar who keep records maybe e.g. even about your unpaid speeding fines in Singapore and the Canadian immigration or bank clerk would see that and might nag you for that.

Is there a chance to get a report from these databases?
Maybe I got into such a database by mistake or by false suggestion me to be a Bad Guy?

Thank you for any help.

B R
R.Mr R
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Topic: Lowtax.net General
3 months in 4 countries
Hello. I am currently a resident of Spain, but when I stop work, I plan to spend 3 months in 4 different places (a priori Thailand, Brazil, Morocco, Florida). 3 months because this normally means you do not need much of a visa, you normally do not get to be a tax resident, ...and you don't get bored.
I assume I will have to chose a place to be a tax resident in, but my idea is that it can be a place like Panama or similar where I do not need to reside.
I understand that the pension I would get from Spain might be taxed in origin, but my money which is offshore and which would be my main source of revenue would not be taxed.

Do you think this makes sense ?

Also if you have any view on how one can organise yourself in terms of splitting the year in 4 countries, I will gladly hear it.Madrid
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Topic: Lowtax.net General
Country with no personal income tax on foreign dividends
I have business income from Norway. I currently have a Belize company which owns a UK Holding company which in turn owns the Norwegian companies. I am happy paying the corporate tax of 28% in Norway. I want to move to a country that will not charge personal income tax on any dividends that I receive from the Belize offshore company. I hold a UK passport but have never lived in the UK. Any suggestions would be greatly appreciated. Thanks
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