May 2, 2016
Tax Obligations in Greece for residents abroad
One common problem for non-Greek residents is that many of them are not aware of their tax obligations arising from a number of links they may have with Greece and as a result they end up with unfulfilled tax obligations. Most commonly, real estate properties of any value need to be registered to the competent tax authorities while a special tax is imposed every year on each real estate property (l. 4223/2013). Moreover, pursuant to article 5 of l. 4172/2013 (Code of Income Taxation) any kind of income resource including interests from bank accounts, even of very small amounts, create the obligation to file an income declaration every fiscal year and/or other tax documentation. The fines imposed for omitting such obligations involve, in many cases higher payments than the amount of not declared income.
“The present text includes information which may not apply to all real, legal or other situations. In any case, all information included in the present does not constitute legal or business advice and shall not be interpreted as such.”