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Social Insurance and National Health Insurance System Alert
Please see below several changes in respect to the Social Insurance contributions and the National Health Insurance System (NHIS) which are effective in 2020. Social Insurance Rates 2020 The...
Amendments to the Notional Interest Deduction (NID) provisions of the Income Tax Law
Tax Updates Amendments to the Notional Interest Deduction (NID) provisions of the Income Tax Law On 16 June 2020, an amending Income Tax Law was published in the Official Gazette in respect to the...
Extended deadline for the submission of 2019 personal income tax returns and for the payment of Tax
In accordance with a Decree issued on 5 June 2020, the following deadlines are extended to 30 October 2020. Electronic submission of the 2019 personal income tax return by employees and pensioners...
Application of the reduced VAT rate from 9% to 5%
VAT UPDATES The Council of Ministers have issued a new decree (Κ.Δ.Π. 268/2020) dated 23.06.2020, regarding the application of the reduced VAT rate of 5% on hotel accommodation, restaurant...
Amendments to the Assessment and Collection of Taxes Law
On 20 August 2020, an amending law was published in the Official Gazette in respect to the Assessment and Collection of Taxes Law, which was followed by a clarifying Circular (Circular 46),...