Greece: Implementation of Capital Gains Tax postponed
Further to our Taxflashes1 and effective
immediately
it was decided, at the Ministerial meeting held on 29 December 2011, to postpone for three months the Capital Gains Tax implementation, previously scheduled for 1 January 2012.
Impact on customers
As result of this postponement, the implementation of the Capital Gains Tax is now scheduled for 1 April 2012.
Note: The tax on equities sales transactions would continue to apply as currently.
Once implemented, Capital Gains Tax will be applicable for Greek residents only.
Capital gains will be considered as income and processed through an annual tax return; no deductions will be performed via Clearstream Banking2.
We will continue to monitor the Greek market for any new developments and will provide more information as it becomes available.
Further information
For further information, please contact the Clearstream Banking Tax Help Desk on:
| Luxembourg | Frankfurt | |
| Email: | tax@clearstream.com | tax@clearstream.com |
| Telephone: | +352-243-32835 | +49-(0) 69-2 11-1 3821 |
| Fax: | +352-243-632835 | +49-(0) 69-2 11-61 3821 |
or Clearstream Banking Customer Service or your Relationship Officer.
1. T11040 (14 July 2011), T11080 (29 November 2011), T11082 (16 December 2011) and T11086 (30 December 2011).
2. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in the Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500 (CBF) and Clearstream Banking, société anonyme, registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).
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