We outline below last month’s most significant legal developments
Taxation:
- The Governor of IAPR issued Decision no 1034/2019 and Circular no 2026/2019 determining the form and content of “Ε3” form on the “List of Financial Information from Business Activity” and “List of Tax adjustments”.
- The Governor of IAPR issued Decision no 1037/2019 determining the form and content of Income Tax Declarations regarding legal persons and legal entities falling under article 45 of the Tax Income Code, as well as the supporting documents, for tax year 2018.
- The Governor of IAPR issued Decision no 1041/2019 determining the form and content of Income Tax Declarations for Individuals and their supporting documents for tax year 2018.
- IAPR published a Q&A sheet regarding Separate Income Tax Declarations between spouses.
- IAPR published Circular no 2023/2019 providing instructions on filling and tax assessment of Income Tax Declaration of legal persons and legal entities for tax year 2018.
- The Governor of IAPR issued Decision no 1035/2019, amending Decision no 1115/2016 of the General Secretary of Public Revenues. The latter regulates the reduction of the taxable amount regarding claw-backs granted by pharmaceutical companies to social security organizations on the basis of the provisions of Law 4052/2012 for VAT purposes.
- IAPR published Circular no 2028/2019 with regards to the income arising from capital gains (ar. 42 of the Income Tax Code) on the transfer of titles, upon the establishment or transfer of shares in usufruct upon the payment of fee.
- IAPR published Circular no 2032/2019 on the tax treatment of dividends received by a Greek tax resident when such dividends are distributed by a foreign shipping company pursuant to article 44 of Law 4141/2013.
- The Governor of IAPR issued Decision no 1055/2019 amending the Registry System of Bank and Payment Accounts.
- IAPR published Circular no 2019/2019 regarding the tax treatment of the income received by a Swiss tax resident of Switzerland in Greece, when such income concern group pension schemes benefits.
- IAPR published Circular no 2020/2019 with regards to the tax treatment of the income earned from developing ERP software platform and relative services provided in Bulgaria and received by a Greek tax resident in Greece.
Anti-money Laundering:
- The European Commission issued a new list including 23 high-risk third countries with weak measures regarding the fight against money laundering and financing of terrorist activities. A Q&A fact sheet has also been published.
Labor & Social Security:
- The Ministry of Labor published a document providing clarifications on Company’s Managers social security contributions.
- The Unified Social Insurance Fund (EFKA) published Document 7/2019 on the reduction of insurance contributions reduction regarding Freelancers, self-employed individuals and farmers.
Other legislative Developments:
- Law 4591/2019 on “Implementation of a) Directive (EU) 2016/2102 of the European Parliament and of the Council on the accessibility of websites and mobile applications of public sector bodies and b) Article 1 of Directive (EU) 2017/2455 of the Council in the Greek legislation” was published in the Government Gazette.
- Law 4596/2019 with regards “The Ratification of Protocol No. 16 of the Convention for the Protection of Human Rights and Fundamental Freedoms, the incorporation of Directive 2016/343 of the European Parliament and the Council, the implementation of an enhanced cooperation on the establishment of the European Public Prosecutor's Office, as well as the provisions for the efficiency and the functioning of the justice system and other provisions” was published in the Government Gazette.
- Greek Parliament voted the bill on “Corporate Transformations and the harmonization of the national framework with the provisions of Directive 2014/55/ EU of the European Parliament and the Council of 16 April 2014 on electronic invoicing in public procurement Text”.
- A new EU Regulation on public documents enters into force, changing the ratification and translation process. Public documents (e.g. birth certificate, marriage or a criminal record certificate) issued in an EU country should be accepted as genuine by another Member State’s Authorities without any stamp being necessary to prove its authenticity. In addition, the regulation repeals the obligation for citizens to provide in every case a certified copy and a certified translation of their public documents. The list of public documents and multilingual forms is available on the European e-Justice portal.
- The European Data Protection Board has adopted the statement on the adverse effects of the US Foreign Account Tax Compliance Act (FATCA) and GDPR provisions.