Greece Gazettes Law Providing Incentives for Business Development Through Partnerships, Corporate Transformations

The Greek Official Gazette May 26 published Law No. 4935, providing incentives for business development through partnerships and corporate transformations. The law includes measures: 1) providing a conditional 30 percent income tax exemption to a new company or cooperation; 2) limiting the tax benefit to 500,000 euros (US$535,874) for business transformations for a period of up to nine years from the date of application of the tax exemption; 3) providing a conditional income tax exemption on the goodwill from the transfer of fixed assets of the new company; 4) exempting stamp duties; 5) providing conditional recognition of the deduction of ...