The corporate profit tax rate in Greece is close to the global average, while the dividend tax rate is among the lowest internationally, according to a report by the OECD (Corporate Tax Statistics) published today.
THE average tax rate in 141 territories set at 21.1% in 2023 from 28.2% in 2000, reflecting the perennial trend of tax competition that prevailed internationally to attract investment. Characteristic of this competition is that only 27 territories have a rate higher than 30%, with Colombia and Malta having the highest (35%), while 12 territories operate as tax havens as they impose no tax or have a zero rate.
At the same levels the actual tax rate
In GREECE, the tax rate was reduced at the beginning of the current 10-year period to 22%. It reached the same levels, according to the OECD effective average tax rate in 2022, which he calculated taking into account the rate of tax depreciation.
Concerning the dividends distributed by companies, Greece taxes them at source at a rate of 5% which is among the lowest internationally, with the average rate for high-income countries being amounts to 15.5% which is 4.3 percentage points higher than the average rate in low- and middle-income countries. Zero is the coefficient on dividends, according to the OECD.
Increase in revenue contribution from multinationals
The income from corporate taxation as a percentage of GDP was among the lowest worldwide in Greece. Specifically, in 2020 they accounted for less than 2% of GDP, while in 116 OECD territories it ranged from 2% to 5%.
50% of the revenues in Greece came from the taxation of the profits of multinational companies, Greek and foreign. According to the report, the percentage of multinationals’ contribution to revenue increased in Greece by more than 20 percentage points in 2020.
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