Article Of Double Taxation Agreement Greece

In particular, individuals who use the alternative tax method would have to pay a flat-rate tax of €100,000 per year, regardless of the amount of their foreign income. In the event that a parent uses equivalent provisions, he would have to pay a flat-rate tax of 20,000 euros per year. The use of these provisions may not exceed fifteen taxation years. The Government of India and the Government of Greece intend to conclude an agreement to avoid double taxation of income: ARTICLE XVI. – 1. Nationals of a Contracting Party may not be subject to any taxation or obligation arising therefrom in the territory of the other Party which is different, higher or heavier than the taxation and related requirements to which nationals of the latter Party are subject, or may be subject. 2. In the version used in this Article, the term “tax authorities” means, in the case of the United Kingdom, the Commissioners of Internal Revenue or their authorised representatives; in the case of Greece, the Director-General of Taxation or his authorised representative; and, in the case of a territory to which this Convention is extended in accordance with Article XVII, the competent authority for the management of the taxes to which this Convention applies. The exchange of information between the tax authorities of the two countries is planned.

ARTICLE XV. – (1) The tax authorities of the Parties shall exchange information (i.e. information available to them under their respective tax laws under the normal administrative procedure) necessary for the application of the provisions of this Convention, the fight against fraud or the enforcement of the legislation against the windscreen wiper in respect of the taxes which are the subject of the Convention. All information thus exchanged shall be treated in secret and shall not be communicated to persons other than those responsible for fixing and collecting the fees which are the subject of the Convention. No information may be exchanged that would disclose trade, commercial, industrial or professional secrets or business processes. The attached Convention between the Government of India and the Government of Greece for the avoidance of double taxation of income has been ratified and the instruments of ratification exchanged, in accordance with Article XX of that Convention. Where an agent established in one of the territories demonstrates that the action of the tax authorities of the other zone has resulted or will result in double taxation contrary to the provisions of this Convention, he shall be entitled to present his case to the competent authority of the territory in which he resides. If his claim is deemed eligible for examination, the competent authority with which the claim is invoked shall endeavour to reach an agreement with the competent authority of the other region in order to avoid double taxation. . . .