27 August 2021
The Greek Public Revenue Authority (AADE) has published Circular No. A.1186 of 12 August 2021, which lists the jurisdictions considered to have preferential tax regime status for the 2020 tax year. The list is used in relation to certain tax rules, including restrictions on the deductibility of expenses incurred with residents of a listed jurisdiction. Preferential tax regimes are those with a corporate tax rate that is equal to or less than 60% of Greece's tax rate for legal persons/entities resident in Greece or permanent establishments in Greece (changed from 50% effective 1 January 2019).
For the 2020 tax year, the list includes:
Albania, Andorra, Anguilla, Bahamas, Bahrain, Barbados, Belize, Bermuda, Bonaire, Bosnia and Herzegovina, British Virgin Islands, Bulgaria, Cayman Islands, Cyprus, Gibraltar, Guernsey, Hungary, Ireland, Isle of Man, Jersey, Kosovo, Kyrgyzstan, Liechtenstein, Macau, Maldives, Marshall Islands, Moldova, Monaco, Mongolia, Montenegro, North Macedonia, Paraguay, Qatar, Saba, Saudi Arabia, Sri Lanka, St. Eustatius, Timor-Leste, Turkmenistan, Turks and Caicos Islands, United Arab Emirates, and Vanuatu.
As compared to the list for 2019, changes include the removal of Jordan, Montserrat, Nauru, and Uzbekistan as listed jurisdictions, and the addition of Barbados, Kyrgyzstan, Mongolia, Saba, Timor-Leste, and Turkmenistan.
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