Greece-France: Signing of the revised double taxation avoidance agreement

The revised Greece-France Double Taxation Avoidance Convention (SADF) and the accompanying Protocol were signed today by the Minister of Finance Mr. Christos Staikouras and the Ambassador of France to Greece Mr. Patrick Maisonnave, according to a relevant announcement of the Ministry of Finance.

With this new Convention for the Elimination of Double Taxation Relating to Income Taxes and the Prevention of Tax Evasion and Tax Avoidance between Greece and France, the original Convention that has been in force since 1965 is revised [N. 4386/1964 (Government Gazette 192 / A ‘/ 03.11.1964)] and is one of the oldest Double Taxation Agreements maintained by both countries, proving the important economic ties between them, for the benefit of natural persons and legal entities of both countries.

Given that the Double Taxation Agreements are the most important form of economic cooperation between two countries, it is expected that this revised Convention will serve as an incentive for the further development of economic – trade relations between Greece and France, as this Convention reflects the modern tax trends at the international level, based on the Model Convention of the Organization for Economic Cooperation and Development (OECD Model 2017).

Target

The purpose of the Convention is to strengthen the cooperation of the two countries in tax matters, to eliminate double taxation in relation to income taxes, without creating opportunities for non-taxation or reduced taxation through tax evasion or avoidance.

“The Greek Ministry of Finance considers that the new Bilateral Agreement with France is extremely important for the deepening of economic relations between the two countries, providing the appropriate framework of the necessary stability and security to the economic actors and acting as a growth lever, for the benefit of two countries and the European Union as a whole.

Today’s signing of the Agreement confirms the will of the Government to further strengthen the economic and investment relations of our country with such an important partner, France.

I would like to thank the Deputy Minister, the General Secretary, the Governor of AADE and all the collaborators – executives of the Ministry of Finance on behalf of the political leadership of the Ministry of Finance for their contribution “, said the Minister of Finance Mr. Christos Staikouras after the signing of the contract.

“I am happy for the signing today of a new tax agreement between France and Greece.

The new agreement

The new agreement is a very important step forward in facilitating tax security and strengthening economic relations between our countries. It will facilitate the development of direct investment of each state in the other state, as well as businesses. Besides, the date of the signing coincides with the visit of a delegation of French companies of MEDEF (French Business Movement), who traveled to Greece in order to explore new business opportunities.

“After the signing, France will try to ratify the new text as soon as possible, so that it can enter into force quickly,” said the French Ambassador to Greece, Patrick Maisonnave.

Present at the signing of the revised Agreement for the Avoidance of Double Taxation Greece – France were the Deputy Minister of Finance Mr. Apostolos Vesyropoulos, the Secretary General of Tax Policy and Public Property of the Ministry of Finance Mr. Emmanuel Mastromanolis, the director of the Independent State Proceeds Authority Giorgos Pitsilis, the First Counsel of the Embassy Mr. Nicolas Croizer, the Head of the Finance Office at the Embassy of France in Greece Ms. Emmanuelle Boulestreau and officials of the Ministry of Finance and the Embassy of France in Greece.

The Ministry of Finance, in a complex international environment in which problems arise and new challenges are created by the ever-increasing economic interdependence between countries with different economic systems or different growth rates, expands and updates the existing network of these international Conventions, with the focus on peace, stability and security through the deepening of countries’ economic relations.