1.0Vito Ammiratihttps://www.vitoammirati.com/en/adminhttps://www.vitoammirati.com/en/author/admin/rich600338<blockquote class="wp-embedded-content" data-secret="J4ofK1u346"><a href="https://www.vitoammirati.com/en/greece-summary-2014/">Greece Summary 2014</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://www.vitoammirati.com/en/greece-summary-2014/embed/#?secret=J4ofK1u346" width="600" height="338" title="“Greece Summary 2014” — Vito Ammirati" data-secret="J4ofK1u346" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script type="text/javascript"> /* <![CDATA[ */ /*! This file is auto-generated */ !function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document); //# sourceURL=https://www.vitoammirati.com/wp-includes/js/wp-embed.min.js /* ]]> */ </script> Greece Summary 2014   Investment basics: Currency – Euro (EUR) Foreign exchange control – There are no restrictions on imports and exports, but the export of foreign exchange must be made through a licensed commercial bank. There is no obligation to convert imported foreign currency into Euro. Accounting principles/financial statements – IFRS or Greek GAAP. The application of IFRS is compulsory for corporations with listed shares or securities; and for corporations that are consolidated for accounting purposes with a company that uses IFRS if it represents at least 5% of the consolidated turnover, consolidated assets or consolidated results (after minority rights). IFRS is optional for all other corporations or limited liability companies. Greek GAAP applies in all other cases. Financial statements must be prepared annually. Principal business entities – These are the corporation (SA), limited liability company (EPE), general partnership (OE), limited liability partnership (EE) and private limited company (Private Ltd).   Corporate taxation: Residence – A company incorporated in Greece or effectively managed in Greece at any time during a tax year is considered Greek resident for tax purposes for that tax year. Basis – Resident entities are taxed on worldwide income; nonresidents are taxed only on Greece-source profits. […]