Greece Enacts New Rules Introducing Withholding Requirements and Deductibility Limitations

On 21 March 2015, Greece published in its Official Gazette L. 4321/2015, which introduces new withholding tax requirements on certain payments. Under the new provisions, a withholding tax of 26% applies for payments made to individuals or legal entities that:

• Are resident in a jurisdiction that is non-cooperative in tax matters,
• Are resident in a jurisdiction with a beneficial tax regime, i.e. a tax rate less than half of the Greek 26% tax rate,
• Are an associated company and not in complianc…