Greece adopted major changes to corporate and individual taxation

The Greek Parliament in January 2013 passed legislation that affects the income and indirect taxation of legal entities and partnerships, and also the taxation of individuals

Among the measures are changes to the income tax rates (an increase in the corporate income tax rate to 26% from 20%, and new progressive income tax rates for individuals ranging from 22% up to 42%).

Other changes affect the withholding tax rate on certain dividends and profits, reducing the rate from 25% to 10% in 2014, but also reflecting increased withholding tax rates concerning deposits and bonds.

Capital gains arising from the transfer of certain real estate are subject to tax at a rate of 20%, and other changes concern the taxation of fixed or movable assets, deductible expenses for research and development, withholding tax rates on securities income, capital gains and profits from sales of shares, and value added tax (VAT).