On 31\/07\/2020 the Greek Parliament voted the Law No 4714 \/ 31-07-2020 which, among other things, arranged the tax status of individuals who are tax residents of a foreign country and are entitled to pension income abroad. Briefly, the most essential conditions are the following:<\/p>\n
1. Individual who<\/strong><\/p>\n 2. No other condition is required for the transfer of the tax residence,<\/strong> but in order for the individual to be able to prove his tax residence in Greece, in case of dispute by the state of origin, it must appear that he has made Greece the center of his vital interests.<\/p>\n Then he submits his application for transfer of his tax residence in Greece before the competent Greek authorities until March 31st of each year. The decision of the application, accepted or rejected, is issued within 60 days from its submission. In case of acceptance, the individual is obliged to pay 7% tax for his total income earned abroad and the payment is made in one installment on the last working day of July of each year.<\/p>\n The maximum period of inclusion in the alternative taxation of income abroad is set at fifteen (15) tax years, starting from the next tax year from that of the submission of the application of the individual. The fifteen-year period of affiliation is not subject to extension, shortening or abolition. It is noted that the individual is not exempted from inheritance tax or property donations located abroad.<\/p>\n","protected":false},"excerpt":{"rendered":" By Dimitrios Piperakis – attorney at law – Manager at Aegean Consulting Law Firm<\/p>\n","protected":false},"author":5,"featured_media":10162,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[401,348,399],"tags":[],"class_list":["post-11522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-business","category-nomika-nea-en"],"yoast_head":"\n\n