Corona: Greece is promoting home office in the sun
Greece wants to attract “digital migrants” with tax advantages. The country wants to benefit from the trend towards working from home.
Athens / Berlin.
- Due to the corona pandemic, there is a strong trend towards home offices
- Greece wants to benefit from it
- The government lures “digital migrants” with tax breaks
Relocated to Greece to work from there, will receive half of his in the next seven years
enact. This provides for a bill that Finance Minister Christos Staikouras presented to parliament on Monday for discussion.
Among the permanent changes that
leaves behind, the trend towards home office should belong. I want to
benefit. “We learned in the Covid pandemic that, thanks to technological advances, we can choose where we live and work,” says Alex Patelis, Chief Economic Advisor to Prime Minister Kyriakos Mitsotakis.
Greece: Tax breaks for home office migrants
Relocated to Greece, receives a 50 percent discount on income tax. The Greek tax authorities regularly charge incomes of over 40,000 euros a year with the top tax rate of 44 percent. According to the planned model, it is a maximum of 22 percent, and correspondingly less for lower incomes.
is valid for seven years. Patelis sees his country well positioned in the competition for the new “digital migrants”: “We not only have the sun to offer, but also tax incentives.”
Self-employed and Brexit refugees as the target group
An important target group for the program are the self-employed
IT and finance industry
for whom it doesn’t really matter where in the world they sit in front of their laptop. Patelis is hoping for one too
: With the tax breaks, the Greek government is targeting foreigners who will leave the country next year because of Great Britain’s departure from the EU.
Holidays 2021: book now or better wait?
Foreigners who want to move their tax residence to Greece and take advantage of the income tax discount must be there more than
stay in the year. The tax advantages are only available to those who have not been taxable in Greece for at least seven years in the past eight years.
Coronavirus – The most important news at a glance
Greek brain drain should be ended by tax incentives
The government is also hoping for the tax breaks
that during the
left their homes to move back. Between 2010 and 2018, around 800,000 Greeks turned their backs on their homeland and sought their fortune abroad. Greece then lost many of its best talents. Now the finance minister wants to reverse this brain drain.
Slow internet in the home office? This is how the change of provider works
The Greek government is not only trying to lure “digital migrants”, Brexit refugees and Greeks from abroad into the country. In July of this year, the Greek parliament decided on tax breaks for
who move to Greece. They only pay a flat rate of seven percent on their pension. The
also applies to additional income.
For German pensioners, however, it depends on the individual case whether that is
really calculates. Pensioners living abroad with income from rental or commercial operations are subject to limited taxation in Germany. This means that a lot of things that could reduce the tax burden, such as the basic allowance, special expenses and even the splitting of spouses, are lost.
More about home office: