The Greek Official Gazette published Law No. 5164 on 24 December 2024, which transposes key EU directives related to sustainability and business size, while also revising tax incentives for specific investments.

The law implements EU Directive 2022/2464, the Corporate Sustainability Reporting Directive (CSRD), aligning national standards with EU requirements for corporate sustainability reporting, covering environmental, social, and governance (ESG) issues. It also adopts EU Delegated Directive 2023/2775, which updates criteria for classifying micro, small, medium, and large enterprises.

The revised thresholds for total assets and net turnover will better reflect the size of businesses and groups in Greece, fostering a more accurate categorisation.

Micro-enterprises are defined as businesses that do not exceed at least two of the following three criteria: total assets of EUR 450,000 (up from EUR 350,000), net turnover of EUR 900,000 (increased from EUR 700,000), and an average of 10 employees during the period (which remains unchanged).

Small enterprises are those that are not classified as micro-enterprises and do not exceed at least two of the following thresholds: total assets of EUR 5 million (up from EUR 4 million), net turnover of EUR 10 million (increased from EUR 8 million), and an average of 50 employees during the period (which remains unchanged).

Medium-sized enterprises are those that do not fall under the categories of micro or small enterprises and meet no more than one of the following criteria: total assets of EUR 25 million (up from EUR 20 million), net turnover of EUR 50 million (increased from EUR 40 million), and an average of 250 employees during the period (which remains unchanged).

Large enterprises are defined as businesses that exceed at least two of the following criteria: total assets of EUR 25 million (up from EUR 20 million), net turnover of EUR 50 million (increased from EUR 40 million), and an average of 250 employees during the period (which remains unchanged).

The changes will take effect retroactively from 1 January 2024.