On 6th December 2019, Greek Parliament approved tax reform bill (Law 4646/2019), which contains several measures regarding corporate income tax, personal income tax, withholding tax rates, the participation exemption for capital gains etc.
Corporate tax
According to draft Law, corporate tax rate will be reduced from 28% to 24% for all legal entities for the fiscal year 2019 and thereafter.
Dividend withholding tax
The bill also proposed dividend withholding tax rate will be reduced from 10% to 5% as from 1st January 2020.
Personal tax
The bill proposed to include a new income tax rate of 9% from 22% for individual having income up to EUR 10,000.
Participation exemption for capital gains
The bill stated that as from 1 July 2020, capital gains derived by a Greek resident corporation from the separation of qualified participation will be exempted from corporate tax rate.
