ECONOMY

High interest in non-dom taxation

high-interest-in-non-dom-taxation

A great number of high-income foreigners have shown an interest in shifting their tax domicile to Greece, in order to enjoy the lower taxation introduced a few months ago.

Sources tell Kathimerini that dozens of legal firms as well as business consultants have asked the Finance Ministry for more details regarding the terms and conditions of the regulation that will apparently start applying as of early March.

On Tuesday Deputy Finance Minister Apostolos Vesyropoulos and the head of the Independent Authority for Public Revenue, Giorgos Pitsilis, signed a joint decision concerning the process and conditions for enjoying the alternative taxation of income from abroad for individuals moving their tax residence to Greece.

By law, anyone who moves their tax domicile to Greece will enjoy significant tax discounts on their global income, with a flat rate of 100,000 euros, rising by 20,000 euros per dependent family member.

The main condition for those shifting their domicile to Greece is to implement investments in this country amounting to 500,000 euros within three years. No questions will be asked about the origin of that income.