The existence of a double taxation treaty will provide some clarity and support for Australians who are considering investing in Greece, those who currently have investments in Greece, who generate an income stream, or even those who have acquired assets in Greece as a result of inheritance. Paula is sent to Greece for two years by her Australian employer. Paula`s employer must contribute in Australia under the Superguarantee legislation. Paula will continue to be covered by Australian superguarantee legislation and Greek laws, while she works in Greece – which is why a double super cover will occur when double super coverage occurs, the deal will come into force and release Paula and her employer from contributions under Greek law. Paula`s employer will continue to make super-guarantee contributions, as required in Australia. You can find the list of countries with which Greece has signed a DTT in the “Withholding taxes” section in the company summary. When the country of origin levies a limited tax rate on certain types of income, profits or profits, for example. B a withholding tax, this is generally expressed as “may be taxed in that other State”. The agreement does not apply to Australian self-employed residents working in Greece. They are not subject to the Superguarantee Act in Australia, so double super coverage does not occur.
It is with great interest that I read Christos Iliopoulos` article in Saturday`s issue of Neos Kosmos of June 27, 2020. When a government employee is temporarily sent to Greece and double super coverage occurs, only Australian super-laws apply. 2 The multilateral instrument acquires the force of res judicata by the International Tax Agreements Act 1953. Its entry into force was notified on 10 January 2019 in accordance with Article 4A. The explanatory memorandum can be found in the framework of the OECD Multilateral Instrument (OECD) Bill 2018. Most of the members are the descendants of these second-, third- and fourth-generation migrants, supplemented by the recent wave of highly skilled people who left Greece in the wake of the financial crisis. At an investment seminar held a few years ago by the then Syriza government in Melbourne, the representative said when I raised the issue: “This is something we are negotiating with the Australian government.” After COVID-19 on the road to recovery, the tax authorities will implement serious strategies to recover from their shortfall. Let us focus, for example, on our respective countries, Australia and Greece. For example, under the Greek Rules of Taxation Procedure (L. 4174/2013), the Greek Tax Authority assigns a unique tax identification number to each Greek taxpayer and, from an Australian perspective, Greek nationals residing in Australia and working in Australia must also receive an Australian Tax Identification Number (TFN) for Australian tax purposes.
Under these conditions, all Greek residents living abroad are taxed on their worldwide income, whether they live in Greece, Australia or other parts of the world, and the same applies to non-resident Greek Australians residing in Greece. His article focuses on the first generation of migrants of the 1950s and 1960s, who would find it difficult to meet the tax liability of both jurisdictions. It should be noted that the agreement is concluded between the respective tax authorities for the exchange of tax information and not between the taxable person and the tax authorities. . . .