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Three tax incentives for the Stock Exchange | TheGreekDeal.com
Kostis Hatzidakis
Three tax incentives for the Stock Exchange
Three new tax incentives included in the bill for the strengthening of the capital market were presented by the Minister of Economy and Finance, Kostis Hatzidakis.
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Kostis Hatzidakis, Minister of Finance

Three new tax incentives included in the bill for the strengthening of the capital market were presented by the Minister of Economy and Finance, Kostis Hatzidakis, at a press conference held together with the Secretary General of Financial Sector and Private Debt Management, Theoni Alambasi and the Secretary General of Economic Policy and Strategy, George Christopoulos.

More specifically, with the bill:

  • The incentives for angel investors are extended and for alternative market investments. The incentive involves a tax deduction equal to 50% of the investment from taxable income, with a maximum amount of 300,000 euros.
  • A tax deduction is provided for expenses for the listing of SMEs on the stock exchange. Eligible expenses will be increased by 100%, and the amount of the increase will not exceed EUR 200,000. The measure will have a duration of 3 years so that the companies concerned can speed up the procedures in this respect.
  • The withholding tax rate for interest on listed corporate bonds is reduced from 15% to 5%. The incentive applies to tax residents of Greece.

In addition to the tax incentives, the bill is based on 3 other pillars:

  • Thermal shielding of supervisory bodies, especially the Securities and Exchange Commission
  • Measures to protect investors in crypto assets. 30.12.2014, the CRA will be abolished for the regulation of the cryptocurrency market. The Securities and Exchange Commission and the BoE will have the authority of both licensing and sanctions for violations of the legislation. For natural persons and legal entities, the sanction can be either a public notice, an order to cease the illegal conduct, or a fine that can reach 700,000 euros for natural persons and 5 million euros for legal entities.
  • At the same time, and given that cryptos serve money laundering, the so-called "travel rule" is introduced: in principle, when the anonymous cryptos in a crypto wallet are passed to a platform to be converted into fiat currencies, the platform will have to ask for data. So it will not be easy to pass crypto that has been used in criminal activities to the platforms.
  • Also, in 2025, a bill will also come in for the taxation of crypto.
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