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Key elements of HR and payroll compliance in Greece

Although hit hard by the recession, Greece has remained an  attractive destination  for foreign investment. Its economic ties with EU and developing links with East European and Black Sea countries make it a popular business destination for companies who are looking to explore both Western and Eastern markets.

Overview of Labor Law in Greece

One particularity of HR administration in Greece is the fact that it is not mandatory for employers to provide written labor agreements, however we highly recommend that you do. Usually most employment agreements are subject to probation periods, the length of which depends on the nature of the employment, for indefinite term contracts the probation period cannot exceed one year. For fixed term contracts the length of the probation period is negotiated by the employers and employees.

All employees must be registered with the SS Office before the date of the hiring or the company will be fined.

Taxation in Greece

At the end of each month there is a list of documents which must be provided to the authorities.  These include documents include; APD file (IKA file) (Social contributions), income tax declaration and any extra contribution file. These documents can be submitted online, however for last minute submission they will have to be provided personally.

Annual declarations

The annual Company Income Tax Statement must be submitted online each year. The deadline for submitting this declaration varies each year.

Another yearly declaration to be provided to the authorities by March 31st is the Employee’s annual statements which will include the annual gross and net income of the employees and any withheld tax and social security amounts.

Termination of employment

The annual Company Income Tax Statement must be submitted online each year. The deadline for submitting this declaration varies each year.

Another yearly declaration to be provided to the authorities by March 31st is the Employee’s annual statements which will include the annual gross and net income of the employees and any withheld tax and social security amounts.

  •   The employee’s fails or refuses to follow the employer’s policies and instructions
  •   Prolonged medical leave, if this leads to failures in the business
  •   Violation of a particular agreement provisions, if these provisions expressly state that in case of violation the employer can terminate the agreement with no penalty.

Employees hired on fixed term contracts are entitled to layoff compensations. The amount of the compensation will depend on the length of the employment.

Greek business made simple

Starting a business in Greece and making sure that you are compliant with local payroll and HR rules can be quite a challenge. That is why smart companies choose to work with Adm In ME, your trusted business partner in Greece.

Contacts

Contact us to get a free evaluation of your HR and payroll requirements in Greece or to request the price for our services

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