Ingen beskatning for græske skatteborgere på udbytter fra cypriotiske selskaber

In an era where cross-border investment and business activity is thriving, Greek entrepreneurs and investors who choose to invest in Cypriot companies, or to conduct their business through a Cyprus company, enjoy a significant tax advantage. This is due both to Cyprus's low corporate tax rate of 15% — one of the lowest in the European Union — and the favourable Double Tax Treaty between Greece and Cyprus (the "Greece-Cyprus DTT").

This article examines the regulatory framework and the tax benefits provided by the Greece-Cyprus DTT, focusing specifically on the tax treatment of dividends received by Greek tax residents from Cypriot companies, which, as analysed below, are effectively fully exempt from any taxation in Greece.

Regulatorisk Ramme

Beskatning af Udbytter fra Udlandet:

Under græsk lov 4646/2019 er udbytter modtaget af en græsk skatteborger fra udenlandske selskaber (inklusive cypriotiske selskaber) underlagt en skattesats på 5%, og de individuelle modtagere er forpligtet til at erklære sådanne udbytter i deres årlige selvangivelse.

Den Dobbelt Beskatningsaftale Mellem Cypern og Grækenland (Greece-Cyprus DTT):

Ifølge artikel 9 i den græsk-cypriotiske DTT kan udbytter modtaget af en person, der er græsk skatteborger, beskattes både i Grækenland og Cypern.

Desuden fastsætter artikel 21 i den græsk-cypriotiske DTT, gennem hvilken dobbeltbeskatning undgås, at enhver skat (uanset om det er selskabsskat eller på udbytter), der pålægges i henhold til cypriotisk skattelovgivning på udbytter modtaget af en græsk skatteborger fra et cypriotisk selskab, skal gives som kredit mod den græske skat, der pålægges disse udbytter.

Med andre ord kan udbytteindtægter modtaget af en græsk skatteborger fra et cypriotisk selskab beskattes både i Cypern og Grækenland; dog opnås undgåelse af dobbeltbeskatning under den græsk-cypriotiske DTT gennem kreditmetoden, idet der tages hensyn til både den cypriotiske kildeskat, der pålægges udbytter i Cypern, og selskabsskatten, der pålægges overskuddet af det cypriotiske selskab.

Ovenstående blev bekræftet af den officielle fortolkning af den græsk-cypriotiske DTT udstedt af Direktoratet for Internationale Økonomiske Forhold i Grækenland, dateret 31. marts 2016 (reference: DOS A 1051902 EX 2016), som udtrykkeligt angiver, at selskabsskatten, der pålægges overskuddet af det cypriotiske selskab (15%), samt kildeskatten, der pålægges i Cypern på udbytter (0%), skal krediteres mod den græske udbytteskat (5%).

Som et resultat af denne kreditmekanisme, og da selskabsskatten i Cypern er 15%, er udbytter modtaget af en græsk skatteborger fra et cypriotisk selskab effektivt fritaget for beskatning i Grækenland (dvs. den 5% græske udbytteskat er fuldt ud modregnet).

Praktisk Eksempel

Suppose a Greek tax resident holds 100% of the shares of a Cypriot company. The company records pre-tax profits of EUR 100,000 for the year 2026. Cypriot companies are taxed at a corporate income tax rate of 15%, resulting in a corporate tax liability of: EUR 100,000 x 15% = EUR 15,000. Accordingly, the company's after-tax profits amount to EUR 85,000.

Assume the Cypriot company decides to distribute the entirety of its after-tax profits as dividends to its shareholder. The shareholder therefore receives EUR 85,000 in dividends. Under Greek tax law, this amount would be subject to a 5% dividend tax. Therefore, the Greek tax would be: EUR 85,000 x 5% = EUR 4,250.

However, with the credit of the Cyprus corporate tax amounting to EUR 15,000, the shareholder has no obligation to pay the EUR 4,250 in Greece.

Konklusion

In today's environment where international business and investment activity is flourishing, the Double Tax Treaty between Cyprus and Greece serves as a key tool for tax efficiency and the protection of investors and entrepreneurs. The analysis of the tax treatment of dividends received by Greek tax residents from Cypriot companies reveals a significant tax advantage: the effective exemption from Greek taxation through the credit method for tax already paid in Cyprus.

At Philippou Law Firm, we specialise in Corporate and Tax Law, providing services related to the incorporation, management, and tax planning of Cyprus companies. With in-depth knowledge of the international and local tax regulatory framework, we are here to guide you at every step of your tax planning, ensuring efficiency and compliance with tax legislation.