copy the linklink copied!Greece
Greece has met all aspects of the terms of reference (OECD, 2017[3]) (ToR) for the calendar year 2018 (year in review) and no recommendations are made.
In the prior year report, Greece did not receive any recommendations.
Greece can legally issue one type of ruling within the scope of the transparency framework. In practice, Greece issued rulings within the scope of the transparency framework as follows:
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One past ruling;
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For the period 1 April 2016 - 31 December 2016: no future rulings;
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For the calendar year 2017: no future rulings, and
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For the year in review: two future rulings.
No peer input was received in respect of the exchanges of information on rulings received from Greece.
copy the linklink copied!Introduction
This peer review covers Greece’s implementation of the BEPS Action 5 transparency framework for the year 2018. The report has four parts, each relating to a key part of the ToR. Each part is discussed in turn. A summary of recommendations is included at the end of this report.
copy the linklink copied!A. The information gathering process
Greece can legally issue the following type of ruling within the scope of the transparency framework: cross-border unilateral APAs and any other cross-border unilateral tax rulings (such as an advance tax ruling) covering transfer pricing or the application of transfer pricing principles.
Past rulings (ToR I.4.1.1, I.4.1.2, I.4.2.1, I.4.2.2)
For Greece, past rulings are any tax rulings within scope that are issued either: (i) on or after 1 January 2014 but before 1 April 2016; or (ii) on or after 1 January 2010 but before 1 January 2014, provided they were still in effect as at 1 January 2014.
In the prior years’ peer review reports, it was determined that Greece’s undertakings to identify past rulings and all potential exchange jurisdictions were sufficient to meet the minimum standard. Greece’s implementation in this regard remains unchanged, and therefore continues to meet the minimum standard.
Future rulings (ToR I.4.1.1, I.4.1.2, I.4.2.1)
For Greece, future rulings are any tax rulings within scope that are issued on or after 1 April 2016.
In the prior years’ peer review reports, it was determined that Greece’s undertakings to identify future rulings and all potential exchange jurisdictions were sufficient to meet the minimum standard. Greece’s implementation in this regard remains unchanged, and therefore continues to meet the minimum standard.
copy the linklink copied!B. The exchange of information
Legal basis for spontaneous exchange of information (ToR II.5.1, II.5.2)
Greece has the necessary domestic legal basis to exchange information spontaneously. Greece notes that there are no legal or practical impediments that prevent the spontaneous exchange of information on rulings as contemplated in the Action 5 minimum standard.
Greece has international agreements permitting spontaneous exchange of information, including being a party to the (i) Multilateral Convention on Mutual Administrative Assistance in Tax Matters: Amended by the 2010 Protocol (OECD/Council of Europe, 2011[4]) (“the Convention”), (ii) the Directive 2011/16/EU with all other European Union Member States and (iii) double tax agreements in force with 57 jurisdictions.1
Completion and exchange of templates (ToR II.5.3, II.5.4, II.5.5, II.5.6, II.5.7)
In the prior year peer review report, it was determined that Greece’s process for the completion and exchange of templates were sufficient to meet the minimum standard. Greece’s implementation in this regard remains unchanged and therefore continues to meet the minimum standard.
For the year in review, the timeliness of exchanges is as follows:
copy the linklink copied!C. Statistics (ToR IV)
The statistics for the year in review are as follows:
copy the linklink copied!D. Matters related to intellectual property regimes (ToR I.4.1.3)
Greece offers an intellectual property regime (IP regime)2 that is not subject to the transparency requirements under the Action 5 Report (OECD, 2015[5]), because:
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New entrants benefitting from the grandfathered IP regime: the regime is currently under review by the FHTP.
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Third category of IP assets: not applicable as the regime does not allow the third category of IP assets to qualify for the benefits.
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Taxpayers making the use of the option to treat the nexus ratio as a rebuttable presumption: not applicable the regime does not allow the nexus ratio to be treated as a rebuttable presumption.
Notes
← 1. Parties to the Convention are available here: www.oecd.org/tax/exchange-of-tax-information/convention-on-mutual-administrative-assistance-in-tax-matters.htm. Greece also has bilateral agreements with Albania, Armenia, Austria, Azerbaijan, Belgium, Bosnia and Herzegovina, Bulgaria, Canada, China (People’s Republic of), Qatar, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Germany, Georgia, Hungary, Iceland, India, Ireland, Israel, Italy, Korea, Kuwait, Latvia, Lithuania, Luxembourg, Malta, Mexico, Moldova, Morocco, Netherlands, Norway, Poland, Portugal, Romania, Russian Federation, San Marino, Saudi Arabia, Serbia, Slovak Republic, Slovenia, Spain, South Africa, Sweden, Swiss Federation, Tunisia, Turkey, Ukraine, United Arab Emirates, United Kingdom, Uzbekistan and United States.
Note by Turkey: The information in this document with reference to “Cyprus” relates to the southern part of the Island. There is no single authority representing both Turkish and Greek Cypriot people on the Island. Turkey recognises the Turkish Republic of Northern Cyprus (TRNC). Until a lasting and equitable solution is found within the context of the United Nations, Turkey shall preserve its position concerning the “Cyprus issue”.
Note by all the European Union Member States of the OECD and the European Union. The Republic of Cyprus is recognised by all members of the United Nations with the exception of Turkey. The information in this document relates to the area under the effective control of the Government of the Republic of Cyprus.
← 2. Tax patent incentives regime.
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