Recent Changes In Greek Advertising Law

The recent Law No. 4532/2018 has introduced significant amendments to the invoicing process of both printed and broadcast advertisements. The new rules, adopted on 2 April 2018, will apply retroactively from 1 February 2018.

The most important change brought by the new law concerns the so-called "year-end rebates" that are offered every year by the media to the advertising agencies and are calculated as a percentage of their annual advertising costs.

Since 1995, the amount of the rebates could legally reach up to 9.9%. In the meantime, Law 4279/2014 provided for the repeal of the provision concerning the rebates. However, the relevant amendments set out in 2014, following negative reactions by the advertising market, were suspended and never came into application.