Recent tax highlights:
On July 28th 2025 Law 5222/2025 was published, introducing the new National Customs Code, a unified legal framework that provides greater transparency in customs procedures while ensuring enhanced compliance with the relative European Union legislation. The new Customs Code introduces several digital procedures as to filings of declarations and arrival notifications. It also intensifies digital control and data exchange. The new Code introduces digital notification methods for serving notices and assessments. It rearranges joint liability for unpaid duties. It also amends the framework as regards enforcement and sanctions.
The new law also implemented significant amendments to both the VAT Code and the Income Tax Code that affect numerous enterprises as well as natural persons. Some of these key changes include:
- The application of a reduced VAT rate (6%) on the importation of artworks, collections or antiquities, as well as on the supply of art objects (paintings, drawings and collages that are entirely handmade, engravings, etchings and lithographs, sculptures and works of sculpture), provided that the transaction is carried out by the creator of the items or his successors.
- The granting of exemptions from the obligation to submit a VAT tax return to (a) taxable persons established in Greece, whose annual turnover does not exceed €10,000 and (b) to taxable persons established in other EU Member States, whose annual turnover does not exceed €100,000 in EU and €10,000 in Greece.
- The extension of the operation of the Committee for the Extrajudicial Settlement of Tax Disputes.
- The amendment of paragraph 2 of Article 5A of Law 4172/2013, allowing relatives of the person who is subject to the alternative tax regime to be also qualified by said regime even after the submission of the original application.
- The broadening of the scope of the family offices as set out in Article 71H of Law 4172/2013, so that it includes individuals who are foreign tax residents. In addition, the supply of services by the family office to foreign entities owned, directly or indirectly, by the individuals or their family members does not entail that such entities are effectively managed from Greece. As a result, there is no risk as to the tax residency of such entities.
