Greece published the amended income tax law in the official Gazette on 14 August 2015. Law 4334/2015 makes amendments which have immediate effect.
The 2% discount granted in case of lump-sum payment of personal income tax (including business tax and solidarity tax) and corporate income tax is abolished with respect to income arising as of 1 January 2015.
The advance personal income tax payment is increased from 27.5% to 50% for income generated in 2014 from agricultural activities, as well as income from business activities conducted by individuals. For income arising in 2015, the advance personal income tax payment is increased to 75%.
The advance corporate income tax payment for private companies, cooperatives and certain joint ventures is increased from 80% to 100% for income arising in 2014. The advance corporate income tax payment for private companies, cooperatives and certain joint ventures is increased from 80% to 100% for income arising in 2014. Corporate income tax payable by legal entities with a fiscal year coinciding with the calendar year in 2014 must be paid in five equal installments The deadline for payment of the first installment was set at 21 August 2015 and the deadlines for the following four installments are set on the last working days of September, October, November and December respectively.
