Greece Global Payroll & Tax Information Guide
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Payroll in Greece – 2022 Updates
- Minimum wages have been revised for general workers from €29.62 to €31.85 per day (€663.00 to €713.00 per month).
- Suspension of special social solidarity tax extended through 2022.
- 3% point cut in social security contributions extended through 2022.
- Permanent reduction in corporate income tax to 22% from 24%.
- Reduced VAT on transport services, coffee and non-alcoholic beverages, cinemas, tourist packages extended to June 2022.
- Reduced VAT on gyms, dance schools extended to June 2022.
- Suspension of duties on pay – TV services extended to June 2022.
- Taxes on intra-family transfers of up to €800,000 abolished.
- Duties on mobile phone services reduced to 10 from 12-20% currently; abolished for youth below 29 years of age from 1 January 2022.
- Permanent reduction of VAT on animal feed to 6% from 13%.
- Reduction in ENFIA property tax starting in 2022.
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Greece Payroll – Basic Facts
The official currency in Greece is the Euro (EUR).
The accounting year ends on 31st of December or 30th of June.
Employers are required to operate under a pay-as-you-earn scheme (PAYE), according to which withholding tax is imposed on employees’ salary payments.
Wages must be paid regularly, either fortnightly or monthly. Employers are required to main employee payslips for at least previous 3 months.
€0 – €10,000
€10,001 – €20,000
€20,001 – €30,000
€30,001 – €40,000
Compensation and Benefits
Foreign workers in Greece
Non-EU and non-EEA nationals must apply for a work visa and work permit to legally work in the country. A Greek D Visa or Greek National Visa authorizes a person to enter Greece and remain for more than 3 months – it also allows a person to engage in most paid activities.
Non-residents are subject to pay taxes only on their individual income in Greece. And they are married, they will be taxed separately.
For more information about how our Global Payroll Control Platform integrates with local payroll providers in Greece, contact us today.