New tax rules on loans, capital movements, and financial instruments

Greece has introduced updated regulations affecting loans, capital movements within companies, and the handling of cheques, with specific tax rates applied depending on the nature of the transaction.

Loan Transactions

a) Loans involving businesses and the public sector

Loans issued between businesses, between companies and the State, or public-sector entities with at least one company, are subject to a 2.40% fee.

b) Other loan categories

A 3.60% rate applies to:

• Loans between private individuals
• Loans between public-sector legal entities (ΝΠΔΔ)
• Loans between individuals and ΝΠΔΔ
• Loans involving non-profit civil organizations
• Loans taken by entrepreneurs for reasons unrelated to their business activity 

Capital Movements Within Companies

Deposits and withdrawals by partners, shareholders, or related parties are subject to a fee unless:

• They are backed by a specific written agreement, or
• They constitute an advance on profits within the same fiscal year.
• Proper accounting documentation is required.

If annual withdrawals exceed the profit share, the excess amount becomes taxable, with payment due by the end of the month following the approval of the balance sheet at the General Assembly.

Deposits made for future capital increases are exempt, provided they are not used for other purposes. Transactions with Greek or foreign financial institutions are also excluded.

The applicable rate for capital movements in corporations and partnerships is 1.20%.

Mutual (Aλληλόχρεοι) Accounts
Mutual, running, and clearing accounts are taxable unless a credit institution is one of the contracting parties.

The tax base is the highest debit or credit balance recorded during the fiscal year, excluding carried-forward balances and interest.

Applicable rates:

2.40% if all parties are entrepreneurs and the account serves business activities, or if one party is a company
3.60% in all other cases.

Cheques

Registers used to log cheques submitted to Greek credit institutions for collection, pledge, or safekeeping are subject to a 3‰ (per mille) fee calculated on the total value of the cheques.

The obligation to declare and pay the fee lies with the credit institution, while the cost ultimately falls on the holder of the cheque.