# New Tax of 22% for Greek Tax Residents



## narco a (Sep 20, 2013)

Hi

Please could someone let me know if I am right in assuming: if you had a pension of 20,000 euros you would get an income tax allowance of €2100 and you would pay 22% tax on the remainder as an expat Tax resident in Greece ie someone spending over 6 months in Greece.

Thanks for your help.


----------



## narco a (Sep 20, 2013)

*Tax credit of €2100*

I have now looked into this further. From 2014 It seems that up to €25,000 you get taxed at 22% which is €5,500 but you get a tax credit of €2,100 leaving € 3,400 to pay in taxes. Can anyone confirm this please.
Thanks in anticipation!


----------



## Jolly Roger (Dec 4, 2011)

narco a said:


> I have now looked into this further. From 2014 It seems that up to €25,000 you get taxed at 22% which is €5,500 but you get a tax credit of €2,100 leaving € 3,400 to pay in taxes. Can anyone confirm this please.
> Thanks in anticipation!


If you receive a UK pension, then you should be taxed on this by HMRC. Unless you elect to be taxed in Greece, but I can't think why you would want to! I have lived in Greece for many years, but still pay income tax in the UK, as I suspect most other British expats do.


----------



## narco a (Sep 20, 2013)

*Tax as a Tax Greek resident*

Thanks Jolly Roger

I agree with you but I was led to believe that if you reside in Greece for over 183 days or thereabouts you automatically become a Greek tax Resident and as such have to pay taxes on any worldwide income! I am aware of the double tax treaty too but it has to be one or the other?


----------



## Jolly Roger (Dec 4, 2011)

You have stated you have a UK pension and this is probably already taxed under PAYE. If you own property in Greece, then the situation becomes more complicated, because you have to do an annual tax return and an accountant will be required to do this. Then you would have to declare any income that has already been taxed elsewhere.
More information in another thread here.......http://www.expatforum.com/expats/greece-expat-forum-expats-living-greece/121298-tax-advice.html


----------



## christime2056 (Jun 13, 2014)

Can any one tell me what the business tax rate is right now?


----------



## The Grocer (May 30, 2010)

With the current tax allowances it is FAR better to be taxed in UK, but as you say that means being in UK 183 days pa +


----------



## Jolly Roger (Dec 4, 2011)

The Grocer said:


> With the current tax allowances it is FAR better to be taxed in UK, but as you say that means being in UK 183 days pa +


In theory!


----------

