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Tax Flash March 2015

Tax Flash: Ministerial Circular 4321/2015

March 2015

On 21 March 2015 L.4321/2015 was enacted, which includes some tax provisions, the most important being the introduction of significant procedural requirements for the deductibility of corporate expenses. The new provision, which leaves a lot of issues open to interpretation, can create significant practical implications at the level of the enterprises. Given that the issuance of a Ministerial Decision is expected, without which the provision cannot be practically implemented, said Ministerial decision should resolve all the open issues and, to the extent possible, abolish the obligation for the withholding of 26% tax in clear cases of “ordinary” transactions.

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Mary Psylla

Partner, Tax Leader, PwC Greece

Tel: +30 210 6874543

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