Income Tax of Individuals

Individual income tax scale

Income tax reductions (concerns Employees - Retirees - Mainly farmers, not income from business activity)

• (777) euros for the taxpayer without dependent children,
• (810) ευρώ για τον φορολογούμενο χωρίς εξαρτώμενα τέκνα,
• (900) euros for two (2) dependent children,
• (1,120) euros for three (3) dependent children,
• (1,340) euros for four (4) dependent children.

For each additional dependent child after the fourth, the tax reduction is increased by two hundred and twenty (220) euros for each subsequent child.
If the amount of tax is less than these amounts, the tax reduction is limited to the amount of the corresponding tax.

Added item difference

When the real income of the taxpayers does not exceed the amount of six thousand (6,000) euros and their imputed income does not exceed the amount of 9,500 euros (and unless there is a business activity for which the submission of a start-up declaration or individual agricultural activity is required) , this real income, excluding income from capital and goodwill of capital transfer, and the added difference of presumptions, has the tax deductions of the employees, while if the real income exceeds the amount of six thousand (6,000) euros, the excess amount does not has employee tax deductions. The provisions of this article shall also apply to taxpayers who have ceased their business, for the income they have acquired after its cessation.

Farmers

The tax reduction for agricultural entrepreneurs applies only to professional farmers, as defined in the current legislation, provided that at least 50% of their income comes from agricultural activity. The income of the previous paragraph does not include the main pension from OGA, the remuneration from work with a trademark, the remuneration of employees covered by OGA insurance in printing houses, packing plants and related places for up to 150 salaries per year, as well as remuneration of agro members or / and women's cooperatives, who are employed occasionally and are covered by OGA insurance.

In case that income from salaries and pensions is obtained together with the income of a sole proprietorship, the tax reduction is calculated once for all

In case that income is obtained from paid work and pensions or from an individual agricultural enterprise together with income from other categories, the tax reduction will be the one that corresponds only to the part of the income that comes exclusively from paid work and pensions or from an individual agricultural enterprise. Specifically, for those engaged in individual agricultural business, the determination of the profit from business activity includes from the direct aids of Pillar I of the Common Agricultural Policy, as they are defined, only the basic aid as well, in the amount exceeding twelve thousand ( 12,000) euros, green and coupled aid. Agricultural allowances as a whole are not included in the determination of profit from business activity.

For individuals with the first declaration of commencement of business from January 1, 2013 and for the first three (3) years of their activity the tax rate of the first step is reduced by fifty percent (50%), provided that their annual gross income from business activity does not exceed ten thousand (10,000) euros.

Individuals with income from business activity

Profits from business activity are taxed at the rate of natural persons, after being added to any income from salaries and pensions. Tax deductions do not apply to business profits.

If, together with the income of the previous paragraph, income from employment or pensions is also obtained, the tax reduction will be the one that corresponds to the part of the income that comes from employment and pensions, as well as agricultural activity by main occupation. with the income of the previous paragraph, income from paid work or pensions is also obtained, the tax reduction will be the one that corresponds to the part of the income that comes from paid work and pensions, as well as mainly agricultural activity.

For individuals with the first declaration of commencement of business from January 1, 2013 and for the first three (3) years of their activity the tax rate of the first step is reduced by fifty percent (50%), provided that their annual gross income from business 

Individuals with income from real estate

LEGAL ENTITIES

Uniform tax rate of 22% on profits for all legal entities - legal entities, subject to either a haplographic or bibliographic accounting system,

Concerns:

• Α.Ε., Ε.P.Ε., Ι.Κ.Ε
• Private Companies (O.E. , E.E)
• Civil law societies, civil for-profit or non-profit-making companies, holding or invisible
• Joint ventures of personal companies
• Other joint ventures (not only private companies)
• Credit institutions as defined in point 1 of paragraph 1 of Article 4 of Regulation (EU) no. 575/2013, provided that they have been included for the tax years subject to the special provisions of Article 27A
• Agricultural cooperatives and legal entities recognized by the Ministry. Agr. Development as Producer Groups and Organizations under Article 27 of Regulation (EU) 1305/2013
• Other legal entities not listed above

Advance payment of income tax

Income tax advance rates for individuals and legal entities - entities are reduced by fifty percent (50%) for the first three (3) financial years from the declaration of commencement of operations.