On 4 December, the Greek Parliament voted new law 5162/2024 adopting provisions aiming to strengthen income and economic resilience, to the expansion of existing and the introduction of new tax incentives for R&D, to the promotion of innovation and startup businesses, and to the reform of rules on business transformations and other provisions (“the Law”).We have selected and summarised in this newsletter the most noteworthy topics from a corporate tax standpoint.Reform of rules on business transformationsConsolidation & simplification: After many years of in parallel application of four different tax incentive laws to corporate transformations, namely law 1297/1972, law 2166/1993, law 2778/1998 and law 4172/2013 (“ITC”), the time has come for their abolishment and replacement by a ...

Sofia Chatzigiannidou, head of Public Procurement and Concessions, shared valuable insights into Public Procurement of Innovative Solutions at the 4th Public Procurement Conference, organised by NOMIKI BIBLIOTHIKI on 11-12 December.The session sparked the discussion on the strategic types of public contracts, aiming to drive innovation in the framework of the Europe 2020 Strategy for smart, sustainable and inclusive growth. ...

A number of changes have been introduced recently around real estate investments covering among others, extensions of tax suspensions, tax reliefs as well as temporary restrictions in renting new properties short-term in Athens.The recent provisions which are incorporated in Law 5162/2024 lay emphasis on strengthening income and economic resilience. The changes impacting real estate investments are summarised as follows:Changes impacting private individuals onlyFurther suspension of the capital gains tax on gains from the sale of real estate until 31 December 2026.Exemption from income tax for 3 years for certain properties to be leased long term if previously declared as vacant or used for short-term rental.Granting a 20% ENFIA reduction on insured residential properties of private indivi...

The clock is ticking: Financial entities must comply with the requirements stemming from Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (DORA) by 17 January 2025.What is DORA?DORA aims to enhance cybersecurity and safeguard the financial sector entities’ operational resilience towards Information and Communication Technology (ICT) related incidents in view of the increasing risks with respect to ICT and the growth in digitalisation and interconnectedness.DORA introduced rigorous obligations for financial institutions and indirectly for their third-party providers.How could it be relevant for you?DORA largely covers all financial sector entities (FEs) in its scope (i.e. 20 types of financial sector entities, from credit institutions, payment and e-money...