Thessaloniki International Fair – Incentives for mergers and takeovers

The Greek PM announced, among others, from the podium of the Thessaloniki International Fair, incentives for mergers and takeovers.

These incentives include:

• From October 1, 2021, the tax on capital accumulation is reduced by 50% . Budgetary cost €18 million per year.
•  Sole proprietors can, through partnerships, create a new legal entity of a higher form, in order to be subject to the taxation of legal entities on favorable terms.
• For companies – legal entities that merge into a new legal entity or that are merged by absorption by an existing legal entity, creating significant economies of scale, a 30% discount will be provided on the amount of tax due for three years.
• Lending: Takeovers and mergers are one of the five eligibility criteria for access to the 12.7 billion euro Recovery Fund loans, at a very low interest rate.