Greece: Tax for non-residents on gains from corporate and government bonds
Effective retroactively, gains derived by non-resident beneficial owners from Greek government and corporate bonds in the period
29 February 2012 to 1 January 2014
are subject to taxation at the following rates:
- 33% for legal entities;
- 20% for individuals.
This is according to clarifications from the Greek Ministry of Finance in Circular 1117/25.04.2014, published on 25 April 2014.
The new circular states that the responsibility remains with the non-resident final beneficial owner to calculate and remit to the Greek Tax Authorities, by the 25 of June 2014, any tax that may have been applicable on gains derived by the beneficial owner in the stated period.
Impact on customers
Final beneficial owners that are liable to any tax on gains derived from Greek government and corporate bonds are responsible for declaring such gains to the Greek Tax Authorities. Clearstream Banking does not assist in this regard and beneficial owners should consult with their tax advisor on this matter.
Further information
For further information, customers may contact the Clearstream Banking1 Tax Help Desk on:
| Luxembourg | Frankfurt | Singapore | |
| Email: | tax@clearstream.com | tax@clearstream.com | tax@clearstream.com |
| Telephone: | +352-243-32835 | +49-(0) 69-2 11-1 3821 | +65-6597-1665 |
| Fax: | +352-243-632835 | +49-(0) 69-2 11-61 3821 |
or Clearstream Banking Client Services or their Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500 (CBF) and Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).
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