Articles & Updates
Business articles and professional updates from the AFS team. The newest publications appear first.
24
Business ArticlesDevelopment Law 4399/2016
Three new calls for aid schemes under the Development Law, with a total budget of 525 million euros, were announced by the Ministry of Development and Investments. These are specifically the 4th call for the aid scheme ‘Entrepreneurship for Very Small and Small Enterprises’, the 6th call for the aid scheme ‘General Entrepreneurship’ under the Development Law 4399/2016, with the start date for submitting applications for inclusion of investment projects on
9 December 2020 · By Elina Karamanou
Read more
Business ArticlesAMKE VS KOINSEP
Many NGOs adopt the legal form of an AMKE, but not every NGO is an AMKE, just as not every AMKE is an NGO. NGOs, for which a legislative framework is now being promoted in Greece, are a form of organisation that emphasises their autonomy from the state and, in theory, have a strong focus on social benefit (advocacy for […]
27 August 2020 · By Elina Karamanou
Read more
Business ArticlesHOME CRAFTS
Professional farmers have the opportunity to increase their income by starting up a home-craft activity for the preparation of foodstuffs or soaps based on their production products. Conditions Home-craft activity may be carried on by professional farmers who are registered in the register of farmers and agricultural holdings, MAAE. For the start of the activity, necessary […]
27 August 2020 · By Elina Karamanou
Read more
Business ArticlesHow patent protection is secured Find out what it protects and what it concerns – The procedure in detail
For the commercial exploitation of a patent and the safeguarding of its ownership, its registration is certainly required Works of creativity and innovative thought have never stopped, and indeed there have been many times when inventors and scientists contributed through them to worldwide cultural and economic development. Likewise, the innovators themselves, by exploiting their patent, […]
27 August 2020 · By Elina Karamanou
Read more
Business ArticlesEstablishment of Companies IKE, SA, LTD, GP, LP, Sole Proprietorship, with Advantages & Disadvantages
When establishing your business, beyond capital and your vision, you will be faced with choosing the right type of entity (Sole Proprietorship, GP, LP, IKE, LTD, SA, NGO). This choice is crucial, as you would not want to begin any entrepreneurial endeavour by making your first mistake. Our Team, having already […]
27 August 2020 · By Elina Karamanou
Read more
Business ArticlesNew Saving – Self-Governance -SMART HOME programme
The new programme will be simple and expanded and will include more beneficiaries; it is the new Saving – Self-Governance programme, for which applications will start from 2 November and on different dates depending on the region. The new Saving – Self-Governance sets as its objective the upgrading of homes by at least 3 energy categories. It increases […]
5 August 2020 · By Elina Karamanou
Read more
UpdatesTax reliefs for 2020
The most important provisions of Law 4714/2020 concern: Alternative taxation Article 1 adds Article 5B to the ITC and Article 67 is supplemented for the alternative taxation of income of natural persons, beneficiaries of income from pensions arising abroad, who transfer their tax residence to Greece. Free allocation of shares and domestic tourism vouchers With Article 2 t
3 August 2020 · By Nikolaos Karamanos
Read more
UpdatesTIPS FOR ESPA PROGRAMMES
WHAT IS THE «LIFE CYCLE» OF A PROGRAMME? The «life cycle» of a programme begins with its pre-publication and ends with the completion of the investments. More specifically, the main steps are: Pre-publication, where the key points of the programme are set out Call for proposals, where the procedures for submission, assessment and implementation of the investments are set out in detail Submission of proposals, which […]
3 August 2020 · By Elina Karamanou
Read more
Business ArticlesWhy and when does it make sense to convert a personal company into an IKE?
The IKE entered the Greek economy in 2012. It is a capital company, and it has been created in accordance with European standards. These standards give us a guide, so that the management of the company becomes easier, even for entrepreneurs of very small businesses, who do not have the help of advisers for managing […]
1 October 2019 · By Nikolaos Karamanos
Read more
Business ArticlesRenting a house through Airbnb
Even before Article 111 of Law 4446/2016 was put into practical effect, by which the terms and conditions for the short-term letting of property through digital sharing platforms (Airbnb or others) were determined for the first time, the Greek Parliament passed in May of 2017 Law 4472/2017, introducing significant amendments to the specific […]
30 August 2018 · By Nikolaos Karamanos
Read more
UpdatesConditions for exempting debtors from fines and surcharges
We inform you that Opinion 89/2015 of the First Division of the Legal Council of the State (N.S.K.) regarding exemption from surcharges, interest and penalties for late payment of debts, which have been certified up to and including 31-12-2013, on grounds of force majeure, was accepted by the General Secretary for Public Revenue, Giorgos Pitsilis. As stated in the relevant circular, […]
30 May 2018 · By Nikolaos Karamanos
Read more
UpdatesThe Feast of the Holy Spirit
The Feast of the Holy Spirit (Monday 28 May 2018), is a working day for private businesses and not an exempt public holiday, unless it has been established as a public holiday by Decree, Ministerial Decision, Regulation, Collective Labour Agreement etc, or by custom. How it is paid • Those paid on a daily wage basis and who will not work on that day are not entitled to […]
28 May 2018 · By Nikolaos Karamanos
Read more
Business ArticlesThe benefits of GDPR for small and medium-sized enterprises
Great confusion, many questions and equally great insecurity, anxiety and concern are caused by the advent of the General Data Protection Regulation (GDPR) for small and medium-sized enterprises, including insurance intermediaries. What is personal data? What is the difference between personal and sensitive data? What constitutes the processing of personal data? Who is affected by the GDPR and which busin
10 May 2018 · By Elina Karamanou
Read more
UpdatesMay Day holiday & its remuneration
The optional public holiday included 1 May, which under Article 1 of Legislative Decree 380/68 could each year be converted into and designated as a compulsory public holiday, by decision of the then Minister for Labour. From According to 1 May 2017 it was designated as compulsory by the decision (No. 16072/310-18.4.2017), signed by the Minister […]
30 April 2018 · By Marietta Stratigelli
Read more
UpdatesPayment of taxes by card
Within the current week, the possibility for taxpayers to pay certified, unarranged debts of natural and legal persons using payment cards is expected to open on the electronic platform of the Independent Authority for Public Revenue. Circular POL.1071/2018 of the AADE states the following: The payment of individual debts certified at the tax offices (natural and non-natural persons) may be carried out...
25 April 2018 · By Nikolaos Karamanos
Read more
UpdatesRent-free use of a property versus hosting someone in your home
Taxpayers often find it difficult to distinguish between declaring that they are staying in someone else's home and declaring the rent-free use of a property. People frequently assume that they are being hosted simply because they do not own the property and do not pay anything, such as rent, to use it. In fact, being hosted means sharing a home: the taxpayer lives in…
15 April 2018 · By Nikolaos Karamanos
Read more
UpdatesRoad tax on a pro rata basis
Circular 1084-12/06/2017 was issued by which the provisions of paragraph 4 of article 16 of Law 4467-13/04/2017 were notified and the instructions for the collection of pro rata road tax were set out. Therefore, according to paragraph 4 of article 16 of Law 4467-13/04/2017 interested holders of private cars, cars or motorcycles who have […]
12 September 2017 · By Nikolaos Karamanos
Read more
UpdatesMaternity benefits, rights of pregnant women & women in labour
According to the current legislation, women employed by any employer under a private-law employment relationship, either of indefinite or fixed duration, are entitled, regardless of their status (employee or worker) and nationality, to maternity and confinement leave, which is collectively called maternity leave and lasts 119 days. (article 7 of the National General Collective Labour Agreement 2000 […]
9 April 2017 · By Marietta Stratigelli
Read more
UpdatesCircular of the G.G.C. on the obligation to inform the consumer regarding the acceptance or otherwise of card payment methods
Circular of the G.G.C. on the obligation to inform the consumer regarding the acceptance or otherwise of card payment methods Circular 31/01/2017 of the General Secretariat for Trade 89/31.1.2017 concerning informing the consumer about the acceptance or otherwise of card payment methods (article 66 of Law 4446/2016) has been published. The circular clarifies the following: Retail and […]
19 January 2017 · By Nikolaos Karamanos
Read more
UpdatesWhich islands remain with the reduced VAT rate
According to the legislative act, the abolition of VAT rates on the remaining islands of the special VAT regime has been extended. Thus, paragraph 4 of article 21 of Law 2859/2000 (Government Gazette A΄ 248), as replaced by paragraph 1 of article 74 of Law 4509/2017 (Government Gazette A΄ 201), is replaced as follows: «4. Until 30.06.2019 for the islands of Leros, Lesbos, Kos, Samos and […]
31 December 2016 · By Nikolaos Karamanos
Read more
UpdatesWhen is a business obliged to fall under Law 2939/2001 regarding the recycling tax
On the basis of Law 2939/2001 entitled, “Packaging and alternative management of packaging and other products – Establishment of the National Organisation for the Alternative Management of Packaging and Other Products (E.O.E.D.S.A.P.) and other provisions.”, it follows that producers of Electrical and Electronic Equipment are obliged to organise Individual Systems or to participate in Collective Systems for the Alternative Management of WEEE
23 November 2016 · By Nikolaos Karamanos
Read more
UpdatesHow is the received benefit from group pension insurance policies taxed
The benefit received after the benefit from a group pension insurance policy is taxed in accordance with paragraph 4 of Article 15 of Law 4172/2013 separately as follows: Tax rate Amount received 10% <40.000 20% >40.001 In the case of early surrender of the pension insurance policy the above rates are increased by 50. No surrender is considered premature for any payment […]
9 November 2016 · By Nikolaos Karamanos
Read more
UpdatesTax treatment of refunds to consumers through an online application, due to transactions with partner businesses
According to decision ΔΕΑΦ 1133932 ΕΞ 2016, transactions via electronic applications, where sales of certain businesses are promoted through informing website visitors about the ‘discounts’ they can receive from businesses – websites, which pay money at regular intervals into the accounts of customers – users who are registered – […]
15 September 2016 · By Nikolaos Karamanos
Read more