Advance Pricing Agreements (“A.P.A.’s”) regarding intercompany transactions have been issued in Greece for several years. In late July, the Independent Authority for Public Revenue introduced new procedural and timeline-related modifications, aligning the A.P.A. procedure in Greece with global standards. In her article, Natalia Skoulidou, a partner of the Iason Skouzos Law Firm, Athens, addresses new rules for (i) pre-submission consultations, (ii) procedures to be followed when applying for an A.P.A., (iii) the content of the information that must be submitted, (iv) the taxpayer’s A.P.A. history in other countries, (iv) the disclosure of key assumptions on which the proposed pricing method is based, (v) the ability to roll back the methodology to open years, and (vi) revisions, revocation, or cancellation of the A.P.A.

The segment of European countries that have enacted favorable tax regimes to attract the wealthy are well known. Switzerland has its forfait regime, the U.K. has its nondom tax regime, Portugal and Italy have new resident regimes, and Malta and Cyprus have favorable regimes designed to attract new residents. To that list of countries, Greece is a new arrival, having introduced several tax incentive regimes designed to create a favorable tax environment for nonresident individuals transferring tax residence to Greece and the establishment and operation of family offices in Greece. Natalia Skoulidou, a partner of Iason Skouzos Law Firm, Athens, provides an overview of (i) the 5A Nondom Tax Regime, (ii) the 5B Pensioner Regime, (iii) the 5C Employee and Self-Employed Regime, and (iv) the Family Office regime.

Publications

Other Publications

Insights

Publications

Regulating the Issuance of A.P.A.’s in Greece

Greek Tax Incentive Regimes for Newly Arrived Residents and Family Offices

RUCHELMAN

services

Resources

news & events