Legislative Changes In Greece

Our experts in Greece provide the following summary of the country's legislative changes over the past two weeks as the economic crisis continues.

1. Income tax return

The deadline for submission of the Income Tax Returns of legal entities and individuals has been extended until today, 4 September 2015. No penalties of article 4174/13 will be imposed for late submission, only 0,73% for late payment.

2. Advance payment

Increase of the advance payment on income tax:

i) For individuals (55% til 31.12.2014)

(1) 75% advance payment in 2015

(2) 100% advance payment in 2016

ii) For legal entities (80% til 31.12.2014)(1) 100% advance payment with retroactive effect from 01.01.2014.