Author Topic: Sun, sea, safety: pensioners' paradise  (Read 139 times)

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Offline Maik

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Sun, sea, safety: pensioners' paradise
« on: Sunday, 19 July, 2020 @ 13:03:42 »
Sun, sea, safety: Greece woos Europe's pensioners with 7% income tax rate

Most countries want to attract the young and the willing – entrepreneurs with ideas, students looking to learn, people prepared to do the jobs locals turn down. Greece, though, has decided on a different approach, by making a play for Europe’s retirees.

“The logic is very simple: we want pensioners to relocate here,” says Athina Kalyva, head of tax policy at the Greek finance ministry, who has helped design a scheme to get people to do just that. “We have a beautiful country, a very good climate, so why not?”

The initiative, laid out in a draft law to be tabled in parliament this week proposes a flat income tax rate of 7% for foreign retirees who transfer their tax residence to Greece. The incentive would be applicable for a decade.