On 12 December 2019, the President announced that Law 4646/2019 was published in Government Gazette.

Corporate tax

According to Law, as from 1 January 2020, corporate tax rate will be reduced from 28% to 24% for all legal entities for the fiscal year 2019 and thereafter.

Dividend withholding tax

Under the Law, dividend withholding tax rate will be reduced from 10% to 5% as from 1st January 2020.

Personal tax

A new income tax rate for natural persons is introduced in accordance with the Law. It has the following form:

Income (Wages, Pensions, Business Activity) in Euro     Tax Rate (%)
Up to 10,000 9%
10.001-20.000 22%
20.001-30.000 28%
30.001-40.000 36%
More than 40.000 44%

Participation exemption for capital gains

In accordance with the Law, 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.