“Submission for the Provisions of Article 5C – Get a 50% discount on your income tax as an employee or business owner in Greece”

Are you considering to move back to Greece or experience the Mediterrenean way of life for the first time? Don’t miss the opportunity to get a 50% discount on your income tax.

Conditions:
The Article 5C (law 4758/2020) applies to individuals (natural persons) who transfer their tax residence to Greece, for the salaried employment or/and business activity arising in Greece, provided that, cumulatively, they:

• were not Greek tax residents for the previous 5 of the 6 years before the transfer of their tax residence in Greece.
• transfer their tax residence from an EU Member State or EEA country or from a country with which an administrative cooperation agreement in the field of taxation with Greece is in force.
• provide services in Greece in the context of an employment relationship with a Greek legal entity or with a permanent establishment of a foreign company in Greece, including the Law 89/1967 offices.
• declare that they will remain in Greece for at least 2 years.

Also, an individual who earns income both from salaried employment and business activity arising in Greece, may be subject to the 5C regime, for all his said incomes, provided that the relevant conditions for each of the above income categories are met. Otherwise, the income tax and the solidarity contribution exemption apply only to the income category for which the conditions are met.

In any case where the job changes, the individual should inform the competent authority for the change of his employer and submit the formal declaration on behalf of the new employer about filling a new job, in order to continue to be subject to the 5C regime for as many years as are left for the completion of a period of 7 years.

**If an individual who has been included in the 5C regime, does not meet the relevant conditions in a tax year, he ceases to be covered by the beneficial provisions from this tax year onwards and is taxed on all his income from employment or business activity obtained in Greece in accordance with the general provisions. This applies unless he concludes a new employment contract for a position for which the relevant conditions are met again or commences individual business activity within 12 months, informing also the competent Tax Office.

In case of withdrawal from the 5C regime, it is possible to re-apply for inclusion, provided that the new application is submitted at any time within the 7-year period. In the event that the individual remained a Greek tax
resident, the conditions regarding the previous tax residence are not re-examined. However, if in the meantime he became a foreign tax resident, he may submit an application for which all the relevant conditions will be reconsidered. In any case, the inclusion will be possible for as many years as are left until the completion of 7 years from the initial inclusion in the 5C regime.

Contact us in order to become a tax residence of Greece and get the discounted taxation of your income from salaried employment or/and business activity arising in Greece (Article 5C).

Are you coming to Greece for the 1st time?
We are here to support you step by step:

● Obtain a Greek Tax Identification Number (AFM)
● Issue credentials for the public websites
● Submit the Application for inclusion in article 5C