Greece: Implementation of Capital Gains Tax

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Further to our Taxflashes and our Announcement A12003, dated 3 January 2012, concerning the planned provisions and implementation of Capital Gains Tax in Greece, we would like to provide a further update on this matter.

In a draft bill submitted to the Greek Parliament on 22 March 2012, a further postponement of the Capital Gains Tax for equities has been proposed. According to the draft bill, the Capital Gains Tax implementation would be postponed to 1 January 2013.

Note: Until the implementation of the proposed Capital Gains Tax, the tax on equities sales transactions will continue to apply.

We will continue to monitor the Greek market for any new developments and will provide more information as it becomes available.

Greece: Implementation of Capital Gains Tax – update III