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Greece To Attract Wealthy With Lump Sum Tax

by Lorys Charalambous, Tax-News.com, Cyprus

18 October 2019


The Greek Government will reportedly include a lump sum flat tax in forthcoming tax legislation intended to encourage wealthy foreigners to relocate to Greece.

According to local media reports, the proposals are inspired by a similar scheme recently introduced in Italy and would allow qualifying taxpayers to pay a fixed amount of EUR100,000 (USD110,000) per year in tax, plus EUR25,000 annually per dependent family member.

However, it is expected that taxpayers would need to fulfill a number of requirements in order to qualify for the scheme, such as moving their tax residence to Greece.

It is understood that the proposal will be included in a tax bill due to be submitted to parliament in November 2019.

TAGS: Wealth | tax | tax incentives | legislation | Greece | individual income tax

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