An Alternative Way To Do Business In Greece

Even though Greece may offer a spectrum of investment opportunities, due to the country's location, the renewable energy sources (for example, it is estimated that one third of Greece's energy requirements could be met with solar, the superb wind resources in Greece are among the most attractive in Europe), the development in the tourism sector, and the fact that it has the highest amount of skilled workers in Europe, its political, financial and economic instability have transformed Greece into the "sick man of Europe".

The new draft tax law represents an example of the above paradox. Indeed, the main changes that the new draft tax law will introduce to the Greek tax system are related mostly to the increase of the tax rates. For example, the corporate tax for the legal entities will increase from 20% to approximately 26%, with additional taxation of dividends at 10%, 20% capital gains tax on the profits from the sale of securities, 15% on the interest on deposits,