Articles & Updates
Business articles and professional updates from the AFS team. The newest publications appear first.
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Business ArticlesTax Ruling in Greece: The New Tool for Tax Certainty for Businesses and Investors
From tax interpretation to tax certainty For many years businesses in Greece took critical investment decisions based on circulars, opinions and interpretative approaches to tax legislation. But the reality is that modern business decisions are becoming increasingly complex. Acquisitions, mergers, group restructurings, international transactions, investments
18 June 2026 · By Nikolaos Karamanos
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Business ArticlesGeneration Beta: How is “AI” changing the future of work, education & businesses?
The first generation to grow up in the AI economy Humanity is facing one of the greatest transitions in modern history. Generation Beta — the children who were born and will be born from 2025 onwards — will be the first generation to grow up in a world where Artificial Intelligence […]
8 May 2026 · By Nikolaos Karamanos
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UpdatesCircular E.2007/2026: The new tax trap in development laws that threatens business profits
An unseen change — but one that directly affects taxation Tax policy does not always change through new laws. Often, substantive changes arise through interpretative circulars. Circular E.2007/2026 is a characteristic example. Without expressly amending the institutional framework of the development laws, it materially changes the way business profits are taxed. What […]
23 March 2026 · By Nikolaos Karamanos
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Business ArticlesWhy is a tax audit not a simple accounting service?
“Because it is a separate, premium service” In the day-to-day running of a business, accounting services are often treated as a single activity. In reality, however, there is a substantive distinction between ordinary accounting monitoring and the management of a tax audit. Bookkeeping, VAT returns and other obligations form part of the regular accounting function
18 March 2026 · By Nikolaos Karamanos
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Business ArticlesOperating and non-operating expenses: why clear administrative guidance is a matter of institutional credibility
The distinction between operating and non-operating expenses has long been one of the most frequent points of contention in tax audits. Although there is a regulatory framework and a wealth of interpretative guidance, in practice there is a lack of a uniform and binding methodology, which creates uncertainty for businesses and taxpayers. Inconsistency in interpretation leads to the phenomenon whereby the same expense
20 January 2026 · By Nikolaos Karamanos
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Business ArticlesThe power of the plural in the business scene
The polite plural: the timeless advantage of the modern professional In today’s business world, where speed and innovation often overshadow subtlety, there is a tool as old as Greek business culture itself — and yet it remains a strategic advantage: the polite plural. It is not a mere formality. It is a statement of professionalism. It is the line that connects […]
12 November 2025 · By Nikolaos Karamanos
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Business ArticlesStudent properties: The investment that keeps going and cannot be seen
There are investments that make a noise. They cry out from afar, demand attention, and walk around in a suit and tie. And there are others that work silently, methodically, efficiently. Student properties belong to the second category. It is the investment that keeps going. And cannot be seen. Demand for student housing, steadily increasing in recent years, is not merely a temporary phenomenon. […]
27 August 2025 · By Elina Karamanou
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Business ArticlesThe elephant in the room has an activity code: How to assess the real core of your business
In every business, there is an elephant in the room. It does not snort, it does not trample offices — but it is there. It is the KAD. The Activity Classification Number. The most underestimated, overlooked and at the same time the most revealing indicator of what your business really is. And if you think that KAD is just a technical matter for the […]
20 August 2025 · By Elina Karamanou
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Business ArticlesDubai or Abu Dhabi? AFS sets up companies and closes queries
The question seems simple: Dubai or Abu Dhabi? The answer, however, is not for… tourists. It is for entrepreneurs who want to play on the international field with serious prerequisites and solid foundations. AFS is here to ensure you do not choose blindly, but decide strategically. Why set up a company in the United Arab Emirates (UAE)? The […]
11 August 2025 · By Elina Karamanou
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Business ArticlesYou are the project. Everything else is just branches.
In the world of entrepreneurship, leadership and demanding pace, we have been trained to chase results. KPIs, strategic plans, deadlines, deliverables. We focus on external outcomes, often forgetting that the most important project of all… is ourselves. The person behind the strategy No strategy, however well structured it may be, delivers without the person who […]
5 August 2025 · By Elina Karamanou
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Business ArticlesA business with 15 salaries, bonuses, automation, AI and leave: Why AFS does not follow the “squeezing the life out of people” school
We live in an era where professionalism is often equated with exhaustion. Anyone who is not tired is not considered serious enough. Anyone who does not have burnout is not “coping”. Anyone who asks for balance risks being labelled lazy. At AFS, we decided to write our own page in the book of workplace culture. Not to stand out on social media, but […]
28 July 2025 · By Elina Karamanou
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Business ArticlesFrom Dream to Score: How to Reach 90/100 Points in ESPA Without Being Turned Away
Do not wait for the call to be issued before you start. Whoever moves at the last minute in ESPA comes in last – or worse, stays out altogether. Scoring is not a lottery. It is the result of strategy, preparation and knowledge. And yes, there are many who score 75/100 and think they have been treated unfairly. They have not. They were not prepared. If you want to get ESPA […]
22 July 2025 · By Elina Karamanou
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Business ArticlesPreparing for ESPA starts when you are not even looking at a programme. Yes, now.
Every time an ESPA programme is launched, applications come down like rain. Entrepreneurs, startuppers and professionals rush to meet deadlines, gather supporting documents, find a consultant, understand exactly what they are asking for again and –if they manage– press “submit” before the budget is exhausted. But that is wrong. A big mistake. Substantive preparation for a financing […]
7 July 2025 · By Elina Karamanou
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UpdatesERGANI II: The New Era in Human Resources Management
The pilot operation of the information system “ERGANI II” marks a significant development for businesses in Greece. What is ERGANI II? ERGANI II is the upgraded version of the well-known ERGANI information system, which is used to record and monitor employment relations and employment in the country. The new version introduces significant […]
1 July 2025 · By Nikolaos Karamanos
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Business Articles€100,000 Profits, 2 Employees, 3 Countries: Where Does the Tax Office Bleed You Dry and Where Do You Build Wealth?
How much do you really have left when your company makes €100,000 net? And what difference does it make whether you are in Athens, London or Dubai? In the era of digital entrepreneurship and globalisation, where you establish your headquarters can be more important than how you work. On the basis of a simple but revealing tax exercise […]
24 June 2025 · By Nikolaos Karamanos
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UpdatesWhy Choose an Accounting Firm Rather Than a Local Accounting Office?
At a time when entrepreneurship is moving at digital speed and risk lurks behind every tax oversight, choosing the right accounting partner is not a luxury — it is a strategic decision. Specialisation and Scope of Services: An accounting firm offers not just invoice recording and return filing. It provides specialised guidance, tax planning, consultancy services
23 June 2025 · By Nikolaos Karamanos
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UpdatesMandatory Insurance for Businesses against Natural Disasters: What You Need to Know
From 1 June 2025, the obligation to insure businesses against natural disasters came into force, pursuant to Article 5 of Law 5116/2024 and the Joint Ministerial Decision (JMD) issued by the Ministries of National Economy & Finance, Development, Climate Crisis and Digital Governance. This is an important step towards shielding business activity against climate uncertainty, […]
16 June 2025 · By Nikolaos Karamanos
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UpdatesSole Trader and Non-Business Bank Account: What Are the Risks and Consequences?
Are you using your personal account for the receipts of your sole trader business? It is time to see what this really means for your tax position, scrutiny and credibility. What does “business bank account” mean? Since 2018 (Law 4583/2018, article 62), every trader or self-employed professional is required to declare a business account on taxisnet, via […]
9 June 2025 · By Nikolaos Karamanos
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UpdatesLeadership & Digital Transformation in the Age of AI
The business world has entered a new era. An era where Artificial Intelligence, data and automation are not merely options, but essential tools for those who want to remain competitive. However, the more technological solutions that appear, the more difficult it becomes to choose the right direction. The speed of change often […]
12 May 2025 · By Elina Karamanou
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UpdatesTax Treatment of Remuneration of Managers and Members of the Board of Directors of E.P.E. and I.K.E.: What You Need to Know
According to POL. 1139/2015, the remuneration of members and managers of E.P.E. and I.K.E., as well as the remuneration of representatives of partnerships, is equated with internal remuneration of company directors. These are treated as employment income and taxed in accordance with the provisions of Article 15 of Law 4172/2013. Consequently, the details regarding the deduction of these remunerations from the companies’ gross income are of key importance.
5 May 2025 · By Nikolaos Karamanos
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UpdatesTax advantages and disadvantages of mergers and spin-offs of business units for real estate companies in Greece
This article examines the tax implications of mergers and spin-offs of business units for real estate companies in Greece, based on a recent presentation by AFS (#mazimegalonoume). The analysis highlights the advantages and disadvantages of each strategy, helping real estate businesses make informed decisions aligned with their strategic goals. Mergers: A
28 April 2025 · By Nikolaos Karamanos
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UpdatesNew Tourist Accommodation Regulation 2025 – What changes and what you need to do!
From 1 April 2025, the new Regulation on the Relations between Providers of Tourist Accommodation and Customers (Government Gazette B’ 1546/01.04.2025), which replaces the outdated 1976 Regulation, entered into force. This is a significant change that modernises the operating framework of accommodation businesses, incorporates regulations of the digital age and clearly defines rights and obligations. 🔄 What changes […]
14 April 2025 · By Elina Karamanou
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UpdatesORGANISATION 4.0: THE NEW WAY OF MANAGING BUSINESSES
Organisation 4.0 is the next evolution in business management and operations, based on the use of technology, data and automation. It is not only about digitalisation, but about the complete restructuring of the way a business operates, so that it becomes more efficient, flexible and competitive. Think of it as the 4th Industrial Revolution, but […]
17 March 2025 · By Elina Karamanou
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