3 February 2015

After the recent Greek elections and the win of the anti-austerity party, Syriza, this is the first time in more than 40 years that the New Democracy and PASOK will not be in power.  It is anticipated that radical changes will take place in Greece, which, in turn, will impact the tax environment.  
 
The TEA EAPAE Pension Fund recently informed us that the abolishment of the Contribution, based on L.4254/2014, might be reintroduced and applied for at least another year.  The President of the Fund stated in an official communique that both the Fund and the Association of Insurance Companies in Greece will discuss and progress a ‘beneficial conclusion.’  The Fund advised FiscalReps and our Clients to wait for further updates from the new Government in late February/March and then, if applicable, submit and settle the Contribution thereafter.