Corporate tax rates for previously untaxed profits that legal entities operating in Greece will voluntarily disclose will vary from 21.6 percent to a maximum 52.5 percent, according to provisions of a recently ratified draft bill.
The primary tax rate will be calculated based on the rates in effect for the years in which the profits were generated, but which were not declared before annual deadlines.
Rates vary from between 20 to 40 percent, depending on the year and the type of legal entity (Limited, societe anonyme, personal company etc.), while a punitive rate reaches up to 25 percent, also depending on the year in which profits were not declared and the year in which the business declared its profits.
