The Public Revenue Authority has published a Circular 1198/2016 on 23rd December 2016 to provide explanations on the tax treatment of business re-organizations under the Income Tax Code (ITC). According to article 61 of Law 4438/2016, no tax, stamp duty or any other fee/contribution to the Greek state or any other third party is imposed with respect to the statutes, the contribution or asset transfers for companies involved in a business reorganization; the appropriate acts or agreements referring to the contribution or the transfer of rights of assets or liabilities or rights and obligations; the decisions of the statutory bodies of the companies involved; the shareholding in the capital of the new company; or any other agreement or act necessary for the business reorganization or the formation of the new company, publication in the General Electronic Commercial Registry or the registration of the relevant transactions. This provision on incentives for business reorganizations under the ITC applies in accordance with Law 4438/2016. It applies to decisions of the statutory body of the relevant companies in relation to any business reorganization where the decision was taken from 28th November 2016 onwards. It aims to give uniform treatment for business reorganizations under the ITC and investment laws.
«
DTA between Chile and Japan enters into force
Related Posts
Greece: Government presents draft law implementing Pillar 2 global minimum tax
On 7 March 2024, the Greek government presented a draft law to Parliament after a public consultation period. This law implements the European Union's Minimum Taxation Directive (2022/2523) of 14 December 2022. As previously discussed, the law
Read MoreGreece proposes new law to implement EU minimum tax rules
On 23 February, 2024, the Greek Ministry of Finance initiated a public consultation on a proposed bill aiming to incorporate the OECD’s Pillar Two Model Rules, as outlined in the EU Minimum Tax Directive. This draft bill is currently open for
Read MoreGreece: AADE extends deadline DAC7 reporting
On 26 January 2024, the Greek Public Revenue Authority (AADE) released Circular No. A.1016, outlining the processes for digital platform operators to submit and automatically exchange information in alignment with DAC7. DAC 7, formally known as
Read MoreIMF Report Comments on Greece’s Economy
On 23 January 2024 the IMF issued a report following discussions with Greece under Article IV of the IMF’s articles of agreement. Greece’s economic outlook has improved with real GDP growth projected at 2.3% in 2023 and 2.1% in 2024. Positive
Read MoreGreece reveals draft law on Pillar 2 global minimum tax for multinationals
On 9 January 2024, Greece's Ministry of Economy and Finance declared the presentation of a draft law to the cabinet for integrating the Pillar 2 global minimum tax according to Council Directive (EU) 2022/2523 of 14 December 2022. The draft law
Read MoreGreece: AADE issues preferential tax regime jurisdictions list for tax year 2022
On 27 December 2023, the Greek tax authority (AADE) released Circular No. A.1205, outlining which jurisdictions qualify as preferential tax regimes for the 2022 tax period. The list comprises nations where the corporate income tax and capital gains
Read More