Everything You Need To Know About Taxes in Greece

Taxes in Greece can be difficult to wrap your head around if you’re planning on living and working there. It can be extremely difficult when you first move here, because there will be a lot of paperwork, legal documents and tax legislation are in Greek and can be challenging to translate.

To get in touch with a qualified, English-speaking accountant, please book a 15-minute discovery call or email us at info@mygreekexpatjourney.com.

The Three Types of Taxes for Greek Residents

There are three types of taxation are:

1. Income Taxes

These are taxes paid by entities and private individuals. The types of income that are taxable in Greece include sources of income via employment, or profession and investments. Employers are required to subtract the appropriate tax and national insurance sums from their employees' monthly earnings. With regards to social security, the employer's share amounts to 25.06% of the salary, while the employee contributes 16%.

Alternatively, if you are self-employed in Greece, you're responsible for making preemptive payments towards your individual income tax, which will be reconciled in an annual report. Furthermore, as a self-employed individual, you'll personally cover your social security fees. More on this on our EFKA page. If you are self-employed, on the other hand, you must file taxes 5 times a year, at the end of each quarter and the end of the year.

2. Capital or Property Taxes

If you own property in Greece, you must pay tax. Anything that concerns the ownership of real estate or inheritance of property, you have an obligation to pay taxes.

You must also pay tax if you are currently engaging in these activities:

• If you own a car, a motorcycle, a boat, or an aircraft in Greece
• If you are a partner in a limited company in Greece
• If you are buying or constructing a building in Greece
• If you earn an income by renting a property or land in Greece
• If you own a swimming pool bigger than 25 m2 in Greece

3. VAT (Value Added Tax)

As a citizen in Greece, you must also pay VAT, which is tax on the prices of services and products in the country.

Consumption taxes also include transferring house ownership to registering a car or paying a special duty for a cell phone service.

When you earn a higher income, you will pay more taxes, given that the income tax rate will increase. In this regard, it is important to know what taxes to pay and how much, in order to avoid any penalties or large fines from the government.

Income Tax Rates in Greece

These are the bands that apply from the 2026 tax year, and they are marginal: each slice of your income is taxed at the rate for its own band, not your whole income at the top rate. Lower scales also apply depending on how many children you have, and for people under 30, so your own scale may sit below the one above.

Tax Incentives

1. 50% Tax Break: Depending on eligibility, a new tax regime was introduced since the beginning of 2021, which enables foreign individuals to benefit from a 50% tax break on their annual Greek salary or business income over a period of seven years following their relocation. See if you're eligible here.
2. 7% Pension Tax: Under the new legislation effective since July 31, 2020, retirees in Greece pay a flat rate of 7% tax on foreign-sourced income annually. See if you're eligible here.
3. Additional Tax Advantages for Investors: Greece has a 0% capital gains tax and a 5% dividend tax on investments.

‍If you have any questions regarding taxes in Greece, you can request a tax consultation here with one of our professionals.

Get a Straight Answer on Your Own Case

Every relocation turns on the details, and the wrong permit or tax status can cost you months. Before you file anything, book a free 15-minute discovery call and we will go through your situation and tell you plainly what you need, what it costs and how long it takes.

Written by Chloe Mason, founder of My Greek Expat Journey. Chloe has lived in seven countries and has personally guided 300+ people through Greek residency, tax, property and bureaucracy. More articles by Chloe.