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  • Service: Tax, International Tax Services
  • Date: 5/13/2014

Non-Residents of Greece May Owe Capital Gains Tax by June 25 

Global Tax Adviser


May 13, 2014


Alex Feness
GTA, International Corporate Tax


In a recent circular, Greece outlines its new policy on the taxation of capital gains realized by non-residents from February 29, 2012 to December 31, 2013 on the disposition of government and corporate bonds. These new rules will affect hedge funds and institutional investors, among others.

The circular states that non-residents must remit Greek capital gains taxes on dispositions by June 25, 2014 if there was no Greek intermediary involved or if the relevant transfers were effected via aggregated customer accounts. Treaty benefits may apply in certain circumstances.


Previously, such capital gains were subject to a withholding tax at a rate of 20% for non-resident individuals and 33% for non-resident legal entities with no permanent establishment in Greece.


The circular also requires non-residents to file tax returns, including certificates issued by foreign intermediaries substantiating the amount of gain, by June 25, 2014. Non-residents must also appoint a representative in Greece and obtain a Greek tax registration number.


For more information, contact your KPMG adviser.



Information is current to May 13, 2014. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500