GreeceAccounting and Audit
Incentive Law 1892/90
Greece has a comprehensive range of incentives based largely on one piece of legislation. That law provides for incentives to qualifying investors carrying out productive investments. There are four basic types of aid that are provided for, namely, investment (cash) grants, interest subsidies, tax allowances, and increased depreciation rates. The level of the aid varies depending on where in Greece the investment is carried out. Where the investor selects the grants and interest subsidy, the tax allowances are not available and vice versa.
Prospective investors should first evaluate their investment to ensure it qualifies as a "productive investment" as defined under the law. In general, the qualifying investments involve the construction, expansion and modernisation of facilities, and the purchase/installation of equipment and technology, although the provisions of the law which define 21 productive investments must be reviewed in the final analysis.
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