# Spanish Citizen Moving to Greece



## WantToMoveToGreece (7 mo ago)

Hi,

I am a Spanish Citizen thinking of moving to Greece.

My only income comes from dividends from shares in the US stock market. Of the money I get paid from those dividends, the US retains 15% already.

If I moved to Greece, how much would I have to pay in taxes for the other 85%?

Thanks in advance


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## Moulard (Feb 3, 2017)

Once you become a tax resident of Greece, Greece will have the right to tax your global income.

The US will maintain the right to tax US sourced dividends.

The tax treaty between Greece and the US will address the double taxation that may result.

Per the treaty, Greece will allow against Greek tax a credit for the amount of United States tax imposed upon income from sources within the United States but in an amount not exceeding the amount
of the Greek tax imposed upon such income.

So if you had say 1000 USD in dividend income, and paid 150 to the IRS, you would report 1000 USD in dividend income to Greek tax authorities, and be given a credit up to 150 against Greek taxes owed on that income.

if Greek tax on that 1000 was 100 then you would owe Greece nothing, if Greek tax on that 1000 was 200 then you would owe Greece 50.

You cannot just report 85% of the income because 15% has been withheld.

Given your Australian flag, then this is very similar to how the ATO will be treating that dividend income when you report it as part of your global income on your Australian tax return.


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## Harry Moles (11 mo ago)

WantToMoveToGreece said:


> If I moved to Greece, how much would I have to pay in taxes


There are taxes in Greece?


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## WantToMoveToGreece (7 mo ago)

Thanks for your response.



Moulard said:


> if Greek tax on that 1000 was 100 then you would owe Greece nothing, if Greek tax on that 1000 was 200 then you would owe Greece 50.


I think I understand how taxation would work. I would like to know though what the actual tax on those 1000 would be  I have seen figures of 5% ? Any idea if this is true or where to get more info about this? 

Thanks again for your help


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