iCalculator™ GR: Greece Tax Calculators
Welcome to iCalculator™ GR, your comprehensive suite of free tax calculators for Greece. iCalculator™ has provided free tax calculators for Greece since 2019. Since those early days we have extended our resources for Greece to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Greece Tax Calculator and salary calculators within our Greece tax section are based on the latest tax rates published by the Tax Administration in Greece. In this dedicated Tax Portal for Greece you can access:
Greece Tax Calculator 2023/24
The Greece Tax Calculator below is for the 2023 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Greece. This includes calculations for
- Employees in Greece to calculate their annual salary after tax.
- Employers to calculate their cost of employment for their employees in Greece.
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Overview of Taxation in Greece
Greece's tax system encompasses several types of taxes, with compliance being a significant aspect for businesses and individuals. The country's tax structure is characterized by a combination of direct and indirect taxes. Direct taxes include corporate and individual taxes, while indirect taxes are represented by Value-Added Tax (VAT) and property taxes, among others.
Corporate and individual taxes in Greece have seen numerous changes, with a focus on maintaining fiscal stability. The complexity of the Greek tax system, characterized by constantly changing tax parameters, poses challenges to fiscal consolidation.
Types of Taxes:
- Corporate Tax: Levied on company profits.
- Individual Income Tax: Imposed on the income of individuals.
- VAT: Applied to goods and services, with specific compliance requirements for invoicing and reporting.
- Property Taxes: Charged on real estate owned.
Compliance with the Greek tax system is crucial, and businesses must adhere to stringent reporting and invoicing requirements. This involves the use of various technological solutions to efficiently handle tax compliance workloads and meet deadlines. For instance, Robotic Process Automation (RPA) aids in automating repetitive tasks such as submitting filings to tax authority web portals. Moreover, tools like Data Wrangling and Business Intelligence are employed for accurate tax reporting and analytics.
All invoices must be reported to the Greek Independent Authority of Public Revenues through the MyData electronic platform, which facilitates real-time reporting and compliance.
Overall, the Greek tax authorities are moving towards a digitalized and more efficient tax compliance system, encouraging transparency and reducing the administrative burden on taxpayers.
- Corporate and Individual Taxes: Characterized by high tax rates and frequent changes, they represent the direct taxation part of the system.
- VAT Compliance: Requires detailed invoicing and adherence to specific refund rules for businesses operating within and outside the EU.
- Property and Indirect Taxes: Generally higher than in other European countries, contributing to the indirect tax burden.
- Tax Compliance Solutions: RPA, Data Analytics, and Business Intelligence tools are used to streamline tax reporting and compliance processes.