Individuals who fill in a tax return in Greece must have a Tax Registration Number. It is necessary to obtain a tax registration number prior to open a bank account. In order to obtain a tax registration number, they have to authorize a Greek accountant to represent them in front of the tax office. In their Greek bank account they have to transfer through international bank transfer any money that they intend to spend or invest in Greece. This process is very important in order to avoid to be taxed and to comply with money laundry regulations.

Tax returns should be submitted every April for the last tax year (which runs from January to December).

Although married persons are taxed separately in Greece, they must nevertheless fill in a joint tax return. Taxable income of dependent children is always added to the taxable income of the parent who declares the higher   income.

All foreign citizens who owning a property or a car or rent for long term a house in Greece must fill an annual tax return (form E1) irrespective of whether or not they have any source of income. In some cases, further tax declarations (i.e. forms E9, E2, E3 etc) are required.  Individuals are liable to submit tax return since the year that they had transferred money in their Greek bank account. There are no special rules applicable to foreign personnel.

Individuals filling a tax return in Greece are subject to income tax on the greater of their declared earnings or IMPUTED INCOME. Imputed income is assessed on the basis of living expenditure or acquisition of certain assets.

Greek law states that Greek source income is taxable in Greece whereas individuals who are Greek residents for tax purposes are subject to tax on their world-wide income.  The determination of whether an individual is Greek resident or not, is depended on the individual’s intention to adopt Greece as his permanent place of residence. There must be evidence of fact coupled with intention and this intention must be apparent from objective evidence such as the acquisition of a house with the intention of adopting Greece as the country of residence. When an individual is merely present in Greece with the intention of returning back to the country of permanent residence (home country), despite a prolonged stay or presence, the individual does not automatically become a tax resident of Greece and may be still classified as non-Greek tax resident and therefore only be taxed on his Greek source income. Therefore, physical presence alone does not necessarily imply Greek tax residence status.

According a new law, that has been voted on 31/03/2011 the physical presence of an individual more than 183 days per year in Greece is automatically classified as tax resident in Greece and is liable to taxed for the worldwide income in the Greek tax office. International tax agreements are applied for avoiding the double taxation. So for a person that is tax resident in Greece the cost of living and the imputed income are applied. Also he is liable to collect receipts of his daily expenses.

Instructions will be issued by the tax office soon about the way that this new law will be applied, about the evidences and if there will be exceptions.

 

Greek tax residents are entitled to a tax credit of foreign tax abroad (up to certain limits). However, in order for a tax credit to be obtained, a certificate by the foreign tax authority must be issued, certifying the amount and type of income reported as well as the amount of tax actually paid. A certificate providing only the amount of tax corresponding to the foreign source income is not sufficient. Please note that the certificate should refer to the period from January to December and an originally copy as well as an official translation must be submitted to the tax authorities together with the income tax return. If such a certificate is not submitted to the Greek tax authorities, they will not consider foreign taxes for credit against the Greek tax assessment.

If you indent to go back in your Country, should make an appointment with your accountant to fix the last submission of your tax return and to take advice for any other issues.

A)   Income tax liabilities

The owner of a property in Greece is liable to pay Greek income tax for any income that the property generates regardless the residence of the owner, and regardless in which country the money will be paid. There are two types of rent income in Greece:

 

Type A: If you lease your house to someone to live for long term (for more than three months) or permanent, a lease contract must be signed by the two parties, which must be submitted to the tax office in order to be valid. A copy of the lease contract must be handed to your accountant in Greece. Every January you have to report to your accountant the follow information of the last year: the renting months per year, the amount of rent per month, the name of the tenant and his tax number. This income is taxable in Greece according the below income tax bracket.

You must ensure that you keep the electricity bills for the last 6 years because the tax authorities can ask for them as proof of the number of months the house was used. If you have more than one house in Greece, which is not covered by a lease contract or an EOT license, you must keep a copy of the electricity bills to give to your accountant each year. The tax authorities check the electricity consumption in order to ascertain whether the house was rented illegally.

Type B: The income that is generated when you let your house to the tourist (or holiday-makers), directly or via a travel agency, for periods shorter than 3 months, is considered as a business income under the Greek law. In order to let your house legally to the tourists (holiday-makers) you have to follow the next 2 procedures:

a)    Issuing an EOT (Hellenic Tourist Organization)  license

b)    Setting up in rental business to let your house

It is illegal to let your house to the tourist, without you having setting up in business to let your house in the tax office. Also it is illegal to let your house to tourists (either directly or via a tourist agency) without having an E.O.T. license (the protocol number is not enough). In order the tax office accepts you setting up in business to let your house, at least the first stage of the EOT license (obtaining the protocol number of the architect plans approval) have to be completed. Moreover further liabilities are arising, like payments for: social security, chamber of commerce subscription, VAT, income tax, accounting fees etc. Also paper work liabilities like: keeping Hotel Registered Book for registering the arrival and the departure of the clients, keeping accounting books, issuing legal income receipts, receiving legal expense’s invoices, etc. It is against the law to let your house to the tourist without having registered to the tax office as business to let your house.

Income tax bracket (it is valid since 01/01/2011)

* Τax 10% is charged on the first income bracket (5,000 €) to non tax resident in Greece.

*Only a tax resident in Greece must collect personal expenditure receipts for shopping etc to qualify for the tax bracket of 0% tax on income. The receipts concern any daily living expenses that a family can spend, except of telephone bills, electricity bills, transportation bills and car, boat and property purchase.

Minimum worth expenditure receipts required by the tax office in order to qualify for the tax bracket of 0% income tax is: 25% of the total income

Example of what worth personal receipts a tax resident with annual income of 25,000€, must collect every year: 25,000×25%=6,250 worth personal receipts.

If the tax resident fails to collect the minimum requirement worth of receipts, he is liable to pay 10% tax fine on the deference for the tax bracket of 0% (5,000×10%=500€).

Non tax residents in Greece are not allowed any deductions or tax credits from their income.

A tax resident in Greece is liable to pay income tax according the above tax bracket for the worldwide income in Greece. International tax agreements to avoid double taxation exist with almost all EU countries.

If there are trees on the land that you purchased or if you plant trees (e.g. more than 50 olive trees) a minimum agriculture income must be declared for the olive trees. The declaration of the agriculture income gives the right to obtain license to buy an agriculture lorry.

B)   Property tax

The owner of a property is liable to pay property tax if the value of his property exceeds the threshold allowance of 400,000€. (Since 1/1/2010, the previous real estate duty (ETAK) that has been applied on 2008 and 2009 is not applied any more).

Property tax bracket (it is valid since 01/01/2010)

In parallel with the property tax, the tax office has imposed a ‘special property duty’ for year 2011 and 2012 that is collected through the electricity bill. Approximately this duty is vary form 3-5€ per square meter of your home (plus auxiliary lighted space). For 2011 is paid in two installments. The same amount will be paid in 4 installments for 2012 starting from May.

C)   Capital gain tax

Capital gain tax has been applied from 1/1/2006 up to 23/4/2010. Since 23/4/2010 is not applied any more.

D)   Property transfer tax

The first 20,000€ value of the property is taxable by tax rate of 8%. The overall value of 20,001€ is taxable by tax rate of 10%. On top must be calculated land register fees, notary fees, lawyer fees, etc. This tax is paid by the buyer of the property.

New houses that will be bought from the developer are liable in 23% VAT (in this case no transfer tax is applied).

E)    Inheritance tax

Inheritance tax is applied to the Greek property according the degree of relatives. For the A’ degree of relatives (children, parents, wife or husband) the follow inheritance tax bracket is applied: 

Inheritance tax bracket for A’ degree relatives (it is valid since 01/01/2010)

F)    Car and bike tax (road tax)

If you have car in Greece, the car tax must be paid every November-December for the following calendar year. The tax office sends the car tax bill and you must ensure that you receive the bill and pay the road tax on time (before the last working day of December).  Otherwise, you incur a 100% fine. The car has to be tested for emissions and also for mechanical check –KTEO, (for more information: www.ikteo-chanion.gr).

Car tax for cars that have been used before the 1/11/2010

Different car tax rates are applied to the new cars that first used after the 1/11/2010 and for the motor bikes.

  

G)   Monetary donations

Monetary donations from parents to their children are subject to 10% tax.

 

H)   Council tax

It is paid via electricity bill according the square meter of the house and the balconies.

I)     Company tax

Company tax varies according the type of the company from 20%-24%. Further 20% tax is charged to the dividends.

J)     Interest tax

Withholding tax at source of 15% is applied to interest tax. Non tax resident in Greece has the right to ask allowance from the withholding tax in order to declare the interest income in their country.

K)   Vat tax

Vat 13% is applied mainly in food products and hotel services. Vat 6,5% is applied on the hotel services, on the books and magazines. In all other products and services is applied 23% vat.

L)    Extra income tax (solidarity tax) only for tax years 2010 – 2014

Individuals that have income or imputed income more than 12,000€ are liable to pay extra income (solidarity) tax according the follow tax bracket.

Income	Extra income tax only for tax years 2010 – 2014
0-12,000 €	No extra income tax
0 – 20,000 €	1% extra income tax on the total income
0 – 50,000 €	2% extra income tax on the total income
0 – 100,000 €	3% extra income tax on the total income
Over 100,000 €	4% extra income tax on the total income

M)  Extra tax due to luxury cost of living (one off payment)

For car holders of year 2010 with size of the engine more than 1,929 c.c., less than 10 year old:  approximately extra car tax 270€.

For swimming pools for year 2010:  extra swimming pool tax approximately 5€ per square meter. If the swimming pool is shared, the tax will be shared.

For owners of a recreation boat for year 2010: extra boat tax approximately 400€.

N)   Extra business tax

The individuals that have been registered in business are liable for extra tax of 300€ for year 2010 and 400€ for the following years up to 2014. The branches are liable to pay 300€ more for each branch. The extra business tax is 500€ for the business that located in the cities that have more than 50,000 habitants.

Exceptions:

The new business up to 5 years has allowance of this tax.

The business of individuals that located in villages that have less than 500 habitants or in small islands less than 3,000 habitants, have allowance of this tax.

O) Other tax

Short term earnings (less than one year) from investments in the stock exchange are subject of tax according the above income tax bracket. Long term earnings are subject of 0.15% tax.

P)    Transactions between individuals and business higher than 1,500 euro must be done trough bank transfer or by check (not cash). Transactions between business to business higher than 3,000€ must be done trough bank transfer or by check (not cash).

Q)   IMPUTED INCOME ( DEEMED OR NOTIONAL INCOME) DUE  TO THE  COST OF LIVING

Apart of the above taxes on the real income, an individual, that is tax resident in Greece or he is not tax residence in Greece but he has income generated in Greece, may is liable to pay tax on IMPUTED INCOME (notional or deemed income), that is assessed on the basis of living expenditure or acquisition of certain assets, such as those that are described in the passages below.

Tax resident in Greece is considering an individual that spends more than 183 days per year in Greece.

The tax resident in Greece may is liable to pay tax on imputed income.

Also an individual that spends less than 183 days per year in Greece but he has income generated from any source in Greece (from his personal work, for renting his house, etc) may is liable to pay tax on imputed income.

Each expenditure or asset that an individual owns or uses is taken in consideration to assign an income which is presumed to be earned each year.  If the income that he declares is greater than the imputed income he is taxed on declared income.  If the income that he declares is less than the imputed income, he is taxed on the imputed income.

A tax resident individual that doesn’t earn any income in Greece, in order to cover the imputed income has to declare the worldwide income. In this case may he is liable to pay Greek tax according the agreement of avoiding double taxation between Greece and his country.

Transfers trough international bank transferring (pink or white slips) can be used to cover imputed income only if the money have been transferred and declared in their tax return in the first two years since he became tax resident in Greece. After the two years the amount of money that he will transfer is not accepted by the tax office (in most cases).

Failures to cover the imputed income he is liable to pay income tax on the imputed income.

The imputed income is not applied to individuals that spend less than 183 days in Greece with the precondition that they don’t earn any income in Greece.

The tax office requires by the individuals to submit the original  ‘white or pink slips’ that have to be issued from their bank in Greece, in order they prove where the money came from. Also “money laundry” regulations are applied.

“White or pink slip” is a certification, that the Greek bank, in which the individual has his bank account produces. This certification indicates the dates, the amount of money that he has transferred, the country from which the money have been transferred and the name of the beneficiary person in Greece.  The beneficiary name must be the owner or the co-owners of the items. This means that if the property is joined to 3 persons, the bank account have to be joined with these 3 persons.

Money must be transferred in Greece only via a bank to the individual bank account that he has been opened in Greece. In the past, any important amount of monies transferred on his person could be declared to the customs authorities at his point of entry into Greece, and they could issue to him a receipt. Since 24/3/08 the customs don’t issue this receipt any more. If he draws up money from ATM machines the bank cannot issue white or pink slips. So the money has always to be transferred only through a bank. The money must be transferred before the transaction takes place (i.e. before the purchase of the property or the car etc.)  Money that will be transferred after the transaction is not recognized by the tax office to cover the purchases and the tax will be charged on the imputed income.

Individuals must ask from the Greek bank for the “white or pink slips”. The original of these documents must be handed to the accountant to use in filling in their tax return.

Failure to follow the ‘white or pink slip’ process in time, he will be taxed on imputed income according the income tax bracket (above).

The “white or the pink slips” are the most important document for a person that comes from abroad. Are unique and in case that be lost cannot be issued again by the bank.

Q1) Purchase of some certain assets and goods.

The tax office requires ‘pink or white slips’ proving where you found the money when you purchase the follow items:

a)     Acquisition cost of a property, (i.e. Plots, houses, swimming pools etc.)

b)     Buying a private car or bike.

c)      Buying recreation boats, aircrafts, and helicopters.

d)    Buying movable goods to a minimum value of each one, of 10,000. 00 euro.

The cost and the expenses of the above items must be covered by equal amount of ‘white or pink slips’. Failure to obtain this process in time, you will be taxed on deemed or notional income according the income tax bracket (above).

Example: let’s say that three brothers have purchased a plot on 24/5/2010, with the total cost of 180,000€. If they have not been transferred, the 180,000€, from a bank of their country to their joined bank account in a Greek bank, before the 24/5/2010, they will obtain “white or pink slips’ but not in time. So the tax office will taxed them for imputed income of 60,000€ each. So according the income tax bracket each of them is liable to pay 16,420€ tax!!!. .

Also in case that the money have not been transferred via the bank, may be ‘money laundry’ legislation to be applied.

Q2) Cost of living. Using certain assets and goods, and receiving the certain services:

The tax office assesses a minimum imputed income per family, per year that corresponds to the minimum cost of living. This minimum cost of living must be covered by equal income. The cost of living is not applied to the individuals that spend less than 183 days in Greece ( no tax resident) and they have no income in Greece. An individual can have imputed income using the follow assets and items: Only those that be applied to each person must be summarised in order, the overall cost of living, to be calculated.

1) Imputed income of the use of a house (regardless if he owns or rent the house):

If the house is detached house the above figures have to be increased by 20%

 

Example: owning of a holiday house 120 sq.m. Imputed income due to the cost of leaving is 2,900 (80×20=1,600 + 40×32.5=1,300€).

If the holiday house is a detached house, the imputed income is 2,200+20%=2,640€

2) Imputed income of owning or using (in case that you are tenant) a private or shared swimming pool:

In case of the shared swimming pool the above figures are shared according the percentage of the ownership. If the individual has setting up in business to let his house, the swimming pool is considered for business use. In this case it is not account in the calculation of the imputed income. If he rents his house to someone to live permanent, the swimming pool accounts for his imputed income calculation.

Example: owning or using a swimming pool of 40 sq.m. 100%. Imputed income 40×160=6,400€

 3) Imputed income owning of a car:

Example: owning of a car 1800 cc 5 years old. Imputed income 4,000+6×600=7,600€

4) Imputed income owing of a recreation boat:

5) Imputed income of the Greek loan repayments of any type (mortgage).

6) Imputed income of the use of more than one servant in your house.

7) Imputed income for the school fees to private schools for your children

8) Imputed income owning an aeroplane or a helicopter.

9) Imputed income from amounts donated to non-state institutions or to any person including monetary donations from parents to their children.

10) Minimum imputed income in case that a person has no any of the above imputed income

The tax office calculates 3,000€ for unmarried persons and 5,000 for married persons.

For married individuals (according the Greek marriage law), the imputed income is calculated on a family base. In case there are co-owners that are not married the above figures are shared between them.

EXAMPLE : A) A married couple that spends more than 183 days in Greece (tax resident in Greece) has a joined detached house and a joined car.

Items for calculation the cost of living	Imputed income due to the cost of living
Owning of a house 120 sq.m	80×40=3,200€ +40×65+20%=6,960€
Owning a swimming pool of 20 sq.m. 100%.	20×160=3,200€
Owning of a car 1400 cc 7 years old	4,000+2×600=5,200-30%=3,640
Fixed start up minimum imputed income	5,000
Total  imputed income	6,960+3,200+3,640+5,000=  18,800€

So for this couple has been calculated imputed income of 9,400€ (18,800/2) for each one due to the cost of living. In order to cover the cost of living they must declare income that is generated in Greece or in abroad. In case that the couple has not have Greek income or worldwide income to cover the imputed income each one will be taxed according the above income tax bracket. The couple will not pay tax in case that he had transferred electronically (from bank to bank) money and he had declared them in his tax returns, the first two years since he became tax residence in Greece. Failure to cover the imputed income of the 18,800€ the couple is liable to pay tax 880€ (440€ each) to the tax office.

If they cover only a part of the money, they will pay tax on the difference.

The worldwide income that can be declared is: his pension, interest, rent or any other source of income in Greece or from abroad. International tax agreements are applied for avoiding the double taxation

So in case that you will become tax resident in Greece, we suggest you to transfer as more money as you can through the international transferring to your bank in Greece in the first two years since you will become tax resident in Greece, in order to have plenty of  ‘pink or white slips’ to cover the imputed income for the follow years. In case that one year you will transfer more money than the minimum living cost, the balance remains for use in the next year.

In this example the tax resident in Greece is liable to collect expenditure receipts as is mentioned above (25% of their annual income in order to qualify the 0% tax bracket).

EXAMPLE: B) A married couple that spends less than 183 days in Greece (non tax resident in Greece) has a joined detached house and a joined car, but he has income generated in Greece from renting his house.

In the above example if the couple is not tax resident in Greece (spends less than 183 days per calendar year in Greece), but it has income generated in Greece, the imputed income of the house is the half. So 3,480+3,200+3,640+5,000= 15,320€. Failure to cover the imputed income of the 15,320€ (7,660 each) the couple is liable to pay tax 1532€ (766€ each) to the tax office. In this case the imputed income or the difference of the imputed income, can be covered by annual transfers of money electronically trough the banks (pink or white slips) or by remaining past transfers.

In this example the non tax resident in Greece is not liable to collect expenditure receipts as is mentioned above (25% of their annual income in order to qualify the 0% tax bracket).

Since 1/1/2011, the above paragraphs that concern the imputed income are not applied to the individuals that spend less than 183 days in Greece with the precondition that they don’t have any income produced in Greece (neither hidden income). If an individual spends less than 183 days in Greece but his property generates income or he has any other source of income in Greece, he is applicable for the cost of living and imputed income. In this case is not a tax resident in Greece so he can transfer money every year to cover the imputed income due to the cost of living.

————————————————————————————

In the follow table you can calculate your own cost of living as a tax resident in Greece (fill and add the column “Make your calculation”).

 Table A

Living cost calculation in Greece for a Greek tax resident (he spends more than 183 days in Greece)		Make your calculation
A) House of holiday residence
sq.m. 0-80              40 euro		……  X 40 =  …………..
sq.m 81 – 120 .       65 euro		……… X 65 = ……………
sq.m.121 – 200       110 euro		……… X 110 = ……………
sq.m. 201 -300       200 euro		……… X 200 = ……………
sq.m.over 300        400 euro		……… X 400 = …………
auxiliary  space (store, garage etc) 40 euro		……… X 40 = ……..……
Add 20% on the above sum if the house is detached		…………………………….
B) Swimming pool space
up to 60 sq. m.   160 euro per sq.m.		…….. X 160= …….…..
over 60 sq. m.   320 euro per sq.m.		…….. X 320= …….…..
C) car engine size ( cc)
up to 1200 cc   4,000 euro		4,000
from 1,200 to 2,000  plus 600 per 100cc		……. X 600= ……….….
from 2,001 to 3,000  plus 900 per 100cc		……. X 900= ……….….
over 3,001   plus 1200 per 100cc		……. X 1200= ……….….
5- 10 years  old minus 30%
over 10 years  old minus 50%
D) Mortgage repayment in a Greek bank
total mortgage repayments per year		……………………………
E) Others
F) Start up cost of living (3,000 for single or 5,000 for married)
Sum  of  cost of living (A+B+C+D+E+F)

Table B

Living cost calculation in Greece for a non Greek tax resident (he spends less than 183 days in Greece) that he earns income from a Greek source.		Make your calculation
A) House of holiday residence
sq.m. 0-80              40 euro		……  X 20 =  …………..
sq.m 81 – 120 .       65 euro		……… X 32.5 = ……………
sq.m.121 – 200       110 euro		……… X 65 = ……………
sq.m. 201 -300       200 euro		……… X 100 = ……………
sq.m.over 300        400 euro		……… X 200 = …………
auxiliary  space (store, garage etc) 40 euro		……… X 20 = ……..……
Add 20% on the above sum if the house is detached		…………………………….
B) Swimming pool space
up to 60 sq. m.   160 euro per sq.m.		…….. X 160= …….…..
over 60 sq. m.   320 euro per sq.m.		…….. X 320= …….…..
C) car engine size ( cc)
up to 1200 cc   4,000 euro		4,000
from 1,200 to 2,000  plus 600 per 100cc		……. X 600= ……….….
from 2,001 to 3,000  plus 900 per 100cc		……. X 900= ……….….
over 3,001   plus 1200 per 100cc		……. X 1200= ……….….
5- 10 years  old minus 30%
over 10 years  old minus 50%
D) Mortgage repayment in a Greek bank
total mortgage repayments per year		……………………………
E) Others
F) Start up cost of living (3,000 for single or 5,000 for married)
Sum  of  cost of living (A+B+C+D+E+F)

In the above table is presented the most common case of living cost. We suggest you to read more details and examples in the above paragraph Q2, where there are some more cases of cost of living that may be applied to you (boat, donations etc).

So you have to take care to declare income that corresponds to your cost of living in Greece (Sum of cost of living (A+B+C+D+E+F)) or the first two years since that you will become tax resident in Greece you can transfer as much money as you can through the bank (that produce ‘pink/white slips’ from 1^st of January until the 20^th of December of each year. After 2 years that you became tax residence in Greece, the money that you will transfer will be consider as income so will be taxed in Greece. So the first two years you can transfer more money so the balance can be carried forward to cover the cost of living for the next years.

Every year your tax affairs have to be updated, otherwise you can face fines by the tax office; you cannot sell your property, you cannot receive permanent electricity connection, you cannot receive bank loans etc.

There is no tax clearance requirement leading to an exit permit. However, under Greek tax law such persons are required to fill an income tax return before their final departure from Greece.

You should bear in mind that you have to take care in order your tax affairs are up to date on time (in most case every April). Failure to submit your tax return a tax fine of 200€ incur.

Normally, the tax office will audit your tax returns during a period of six or seven years. So if you have tax problems in the current year, may they will arise after seven years. Also you should bear in mind that the Greek tax office may, under the Exchange of Information Article, report to the authorities in your country the chargeable to Greece taxes and vice versa.

If the ownership of the assets is joined, the bank account in Greece must be joined also (the same names).

If you intend to buy a property in the name of company you have to ask advice by a specialized accountant (We are willing to provide you this advice).

OUR OFFICE POLICY

 

Our office can take car your tax affairs and we can submit automatically your tax return every April.

Our annual fee is charged every 2nd of January and is due every April.

Every January, any income that last year is generated in Greece you have to report it to your accountant in order to declare it in your tax return.

If you don’t want to receive any more our services you have to inform us by email until January 2nd of the year. Otherwise we will charge our annual fee.

We suggest you to open a bank account either in bank of Piraeus or in bank of Cyprus. These two banks are willing to provide to us directly the “white or pink slips”. Some banks refuse to deliver the “white or pink slips” to the accountants and moreover some of them charge 10€ commission to issuing them.

If you have bank account in other banks (except of Piraeus or in bank of Cyprus), you have to send us an email every January to inform us the dates and the money that you had transferred in last year.

If you have bank account in ATE (Agriculture bank) when you will come in Crete you would have to collect the “white or pink slips” from the bank to bring to us.

If none of the above cases  A to Q apply to you, or if you fail to advise us of that being the case, we complete your tax return as it was in the previous year (in case that you have given order to our office to fill your tax return). Please bear in mind that failure to declare the necessary income (according the cost of living) or transfer money to cover your annual cost of living (if you are no tax residence but you have income that is produced in Greece), the tax office will charge you income tax for imputed income.

Because the taxation legislation is change very often, the above information is liable to change.

TAX-OASIS Atsalakis & Partners                                         revised: Dec. 31, 2011