ARTICLE
18 July 1995

Recent Tax Law Developments

BG
Bahas Gramatidis & Partners

Contributor

Bahas Gramatidis & Partners
Greece Employment and HR

1. Special Banking Transactions Tax.

The Ministry of Finance has decided to keep in force the so-called special banking transactions tax of 4%, which burdens the final lending cost of the commercial banks, as well as the contribution of 1% of L. 128, which burdens loan interest rates.

2. Mutual Funds.

As from 1 July 1994 income earned by Portfolio Investments and Mutual Funds Companies will be taxed by 15%, whereas the tax is to be calculated daily and rendered to the State every semester in the first fortnight of January and July.

3. Value Added Tax.

As from 1-1-1995 the advance payment of Value Added Tax by enterprises selling goods or rendering services is abolished.
Athanassios Vamvoukos, Bahas, Gramatidis & Associates, Athens, Greece

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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