Our team have a comprehensive tax practice, advising private and public companies, partnerships and individuals, both on a standalone basis and as part of an integrated service across our transactional and disputes teams.
very prompt and thorough advice on a very complicated issue for which there was no previous jurisprudence to provide guidance
Chambers Europe Guide to Europe's Leading Lawyers for Business 2017
prompt response times
The Legal 500 EMEA 2017
what is positive, in particular, is the fast reaction to our requests and the fact that there is always one specialised lawyer for the issue requested to help you out
Chambers Europe Guide to Europe's Leading Lawyers for Business 2016
We identify, anticipate and deal with tax issues, risks and compliance arising in a business or private context. We have represented clients in relation to the amendment of adverse legislative provisions and submitted reports to the Ministry of Finance proposing legislative changes, with a focus on tax incentives for attracting foreign investors.
Due to the highly sensitive and confidential nature of the work we do in this area, we are able to disclose only a fraction of the matters we have advised on.
We advised a global packaging company on the employment tax treatment and corporate tax deductibility of benefits granted to its officers and factory employees to support the operational needs of the business in the context of the implementation of the new income tax law and the interpretative issues surrounding the impact of the new provisions on company practices and following which interpretative guidelines were introduced.
We are advising a leading international banking institution in relation to the taxation of banking services and products in Greece, the tax implications for Greek and non-Greek tax residents and the tax structuring of the entity through which the services and products will be offered. The client is planning to offer a combination of financial advisory and banking services, together with various financial products, under a format and structure not previously used in Greece. Following implementation of the new income tax code as of 1 January 2014, and the changes effected to the basic rules of taxation, all banking services and products are being reconsidered to safeguard compliance with the tax laws.
We advised an energy company on the tax implications of its restructuring following the disinvestment by its joint venture partner in Greece and resulting issues arising, including on outstanding loans to the joint venture entity which needed to be restructured and on the complex tax issues arising and the structuring of the new entity.
We advised a natural cosmetics company on the tax and social security insurance liability of board members and shareholders, involving the implementation of new legislation which has not yet been tested.
We are advising a world leader in online betting systems on its consultation with the Ministry of Finance and the Gaming Committee regarding the interpretation of the tax provisions of the law regulating online betting, the direct and capital tax obligations arising, and the potential restructuring of the group’s operations to satisfy tax requirements and the regulatory framework for investing in the Greek market. Online betting is not yet a fully regulated market in Greece. EU operators were granted the right to lawfully operate in Greece under a transitional regime, provided they paid Greek taxes retrospectively.
We are representing a high value estate in relation to their petition lodged with the Council of State for annulment of the Ministry of Culture’s decision on the inheritance of antiquities pursuant to the legislation governing the protection of antiquities and in relation to a tax investigation regarding cash transfers outside Greece following sale of Greek real estate.
We advised a leading French multinational insurance group on the direct and indirect tax implications of restructuring its European activities, involving the registration of a branch in Greece and contributions to some local operations in accordance with EU tax incentive legislation on cross – border restructurings.
We acted with the UK legal advisors of Glaxo SmithKline, advising on the direct and indirect tax implications and implementation of their acquisition of Novartis’ vaccines business in Greece and the local consumer healthcare joint venture between the two companies.
We advised a physician and professor at a Greek University on his tax compliance and reporting obligations from pursuing activities outside the scope of his academic duties.
We are advising a Swiss law firm on the Greek tax law issues affecting Greek HNWIs, specifically on income tax law obligations, statute of limitations and voluntary disclosure requirements, as well as on gift and inheritance tax issues in the case of domiciled and non-domiciled tax status and Greek and non-Greek assets.
We advised a car distributor on the bad-debts write-off procedure and possible tax and accounting implications and VAT issues related to credit facilities and potential tax implications and drafted sample notifications for distribution to clients.
We advised a credit company on the recent developments regarding the source of funds declaration that must be submitted by board member to the Greek State.
We are advising a multinational insurance company on the corporate tax implications and Greek tax treatment of life insurance contracts offered under the freedom to provide services rules and applied for by Greek tax residents.
We advised Hewlett Packard on the direct and indirect tax implications and implementation of the separation in Greece of the Hewlett Packard infrastructure, software and services businesses from the printing and personal systems businesses.
We successfully represented the subsidiary of a global leader in retail before the Administrative Resolution Committee and the Administrative Courts in its dispute with the tax authorities regarding the assessment of additional income taxes, stamp duty and penalties, following the issuance of a tax audit report on accounting differences and stamp duty liabilities of €1.5m. The Greek tax authorities treated the amounts recorded in the customers’ balances account as company loans to customers and imposed deemed interest income and stamp duty on the relative amounts. The recourse was accepted and a decision issued in favour of our clients.
We represented the subsidiary of a real estate investment fund before the Administrative Courts in its dispute with the tax authorities regarding the assessment of additional income taxes and penalties, following the tax audit reports on the classification of lease payments equal to €4m. The tax authorities treated part of the lease payments paid by the company to the financial lessor as a non-tax deductible expense. The recourse was re-submitted to the Courts following an amnesty provision introduced recently and a decision in favour of our client was issued.
We successfully represented the subsidiary of Marks & Spencer Group before the Administrative Courts in its dispute with the tax authorities regarding the assessment of additional income taxes and penalties following an audit calculating income tax on the amount of €1m corresponding to the value of obsolete merchandise destroyed.
We represented the subsidiary of a global leader in hygiene products in its dispute with the tax authorities regarding the assessment of additional income taxes and penalties, following an audit on accounting differences of €5.5m, which resulted in an out-of-court settlement.
We advised a high net worth individual with dual citizenship on the tax implications arising from re-domiciliation to Greece and the conduct of worldwide business activities from Greece.
We advised a high net worth family with Ukrainian and Greek dual nationality on the tax law aspects, tax residency status, citizenship rules and potential tax obligations arising from the ownership of rights to real estate situated in Greece.
We advised Eurobank Ergasias on the tax implications of their share capital increase scheme, following the implementation of the new income tax law, which resulted in interpretative issues arising regarding the taxation of the share capital increase schemes and the basis of calculation for the taxes due, which led to the amendment of the law.
We advised Eurobank Ergasias on the tax implications of its share capital increase scheme, in the context of the recapitalization provisions, included in the 2015 Austerity Measures for Greek financial institutions and the potential tax risks arising from changes in the practice followed by the tax authorities.
We advised OTE on the tax implications of its bonds issue update scheme, following the implementation of the new income tax law which resulted in many interpretative matters regarding the taxation of the bond issue and treatment of the income arising from the holding and sale of the bonds.
We are advising an airline on tax compliance and reporting obligations arising from the liquidation of its Greek branch.
We advised a leading automobile manufacturer on the VAT implications arising from promotional activities relating to an energy company.
We advised the subsidiary of a global leader in energy power on the direct and indirect tax implications arising from its financing by the European Investment Bank.
We are advising an overseas investor in the context of an international technical project on the tax structure options available for the execution of the local leg of the transaction and the interpretation issues arising from the implementation of IFRS to the accounting treatment of the project.
We advised a high net worth individual on the tax implications arising from asset restructuring and distribution of estate assets to family members.
We represented a high net worth individual with dual citizenship in an investigation by the tax authorities regarding the transfer of €10m out of Greece following the sale of Greek real estate assets and taxation of the sale proceeds.
We represented a high net worth individual in the tax audit of €3m transferred out of Greece.
We represented a high net worth individual in his dispute with the tax authorities regarding the assessment of additional income taxes and penalties of an amount equal to €1.3m, following an audit on funds transferred out of Greece. The out of court settlement petition was accepted and a decision issued in favour of our client.
We advised an overseas foundation in relation to its case before the tax authorities with respect to the retrospective application of special real estate taxes.
We advised the local distributor of a market leader in the global clinical nutrition industry on the Common Custom Tariff classification and VAT treatment of various imported and marketed products following the amendment of the law governing the application of reduced VAT rates.
We advised the subsidiary of a global leader in retail on the change of its transfer pricing policy, related tax considerations and redrafting of agreements.
We advised a global ICT solutions provider on the tax and customs laws and regulations applicable to the operations of its Greek subsidiary and the penalties imposed for non-compliance.
We advised an Arab investment fund on the tax implications and implementation of a corporate structure for inward investment and the acquisition, holding, development and potential sale of real estate with a value of €110m.
We advised a global banking and finance group on the tax implications arising from the expansion of its lending activities in Greece, specifically on the conduct of lending activities via its US or EU based subsidiaries, guarantees on Greek assets and their forfeiture.
We advised Piraeus Bank Group on the tax implications of its bonds issue update scheme, following the implementation of the new income tax law which resulted in interpretative issues regarding the taxation of the bond issue and treatment of the income arising from the holding and sale of the bonds.