Greek Business Law
A Handbook for Businesses and Legal Practitioners
XIX
Table of Contents
20.7. Special anti-abuse rules
....................................................................................................................... 131
20.8. Transfer pricing rules
.............................................................................................................................. 132
20.8.1. Arm’s length principle
............................................................................................................... 132
20.8.2. Definition of associated companies
.................................................................................. 132
20.8.3. Transfer pricing documentation requirements
............................................................ 132
20.8.4. Violation of transfer pricing reporting and rules
......................................................... 133
20.8.5. Advance pricing arrangements
............................................................................................ 133
20.9. Filing of income tax returns
............................................................................................................... 133
20.10. Certificates filed with the tax returns
........................................................................................ 134
20.11. Advance taxes
......................................................................................................................................... 134
20.12. Credit for taxes paid abroad
........................................................................................................... 134
20.13. Carrying tax losses forward
............................................................................................................. 134
20.14. Taxation rules for the liquidation process
............................................................................... 135
20.15. Special rules applicable to specific sectors
............................................................................ 135
20.16. VAT
................................................................................................................................................................. 135
20.16.1. Main characteristics
................................................................................................................ 135
20.16.2. VAT rates
....................................................................................................................................... 136
20.17. Stamp duty
............................................................................................................................................... 136
20.18. Tax Issues from financing Greek companies
.......................................................................... 136
20.18.1. Capital tax on equity
.............................................................................................................. 136
20.18.2. Stamp duty on private (not bank) loans
....................................................................... 137
20.18.3. Bank loans
................................................................................................................................... 138
20.18.4. Setting interest rates between associated companies for tax purposes
........ 139
20.18.5. Greek withholding tax on interest
.................................................................................... 139
20.18.6. Taxes and duties on financing through corporate bonds
..................................... 141
PART VI: INCENTIVES
21. Incentives
..................................................................................................................................................... 143
21.1. Legal framework – Types of grants
................................................................................................ 143
21.2. Amount of grants
..................................................................................................................................... 143
21.3. Regulations regarding the maximum amount of grants
.................................................. 144
21.4. Investor’s own contribution
............................................................................................................... 145
21.5. Procedural key points of the Incentives Law
............................................................................ 146
