ECONOMY

Incentives for foreign taxpayers include 50% income tax discount

incentives-for-foreign-taxpayers-include-50-income-tax-discount

Lawmakers were presented on Tuesday with a draft bill introducing a set of incentives aimed at enticing Greeks based abroad as well as foreign taxpayers and self-employed professionals to transfer their tax domicile to Greece.

In comments on Tuesday, Finance Minister Christos Staikouras said that the government started this process with the introduction of Law 4646/2019 setting up the “non-domiciled” (or non dom) framework for foreign taxpayers with the aim of attracting investments by offering them a more favorable taxation status of their global income.

He noted that the latest draft legislation introduces tax incentives to attract foreign workers and self-employed professionals, along with Greeks who left the country during the economic crisis, to transfer their tax base in Greece.

The incentives include an exemption from income tax and the special solidarity contribution for 50% of the income raised in Greece for a period of seven years, as well as an exemption from the annual tax objective spending criteria for homes and vehicles, the Athens-Macedonian News Agency reported.