On 23 July 2013, Law 4172/2013 was published in the Government Gazette replacing the Greek Income Tax Code. The new provisions are in principle applicable for income generated and expenses incurred for tax years starting as of 1st January 2014. The new provisions aim is to signiﬁcantly simplify and rationalize the current tax system. They relate to individual and corporate taxation, while more speciﬁc provisions regarding their implementation will be included in the Tax Procedures Code, a separate piece of legislation is to follow. The new Income Tax Code takes into consideration the deﬁnitions and income characterisation deriving from international tax law rules and includes provisions relating to cross border transformations, as well as Controlled Foreign Companies (CFC) rules.
The main provisions are summarized as follows:
Individuals subject to income tax – foreign tax credit
• Individuals having their tax residency in Greece are subject to…
Δείτε την αρχική δημοσίευση 5.431 επιπλέον λέξεις