- The circular 2066/2023 of the AADE provides clarifications regarding the imposition of a 24% VAT rate on income from Contract For Differences (CFD) contracts.
- The circular applies to individuals who enter into CFD contracts.
- CFD contracts are financial instruments that are not traded on a stock exchange and are used for risk hedging purposes.
- The European Commission has provided guidelines stating that transactions involving options traded on organized markets are exempt from VAT.
- Greek legislation exempts derivative contracts and related acts from stamp duties and other indirect taxes.
- Greek legislation also exempts the acquisition of tradable derivatives, capital gains from derivative transactions, and income from lending or borrowing transactions involving securities from all taxes.
- Additionally, Greek legislation exempts the provision of insurance for the smooth functioning of the system, the transfer of legal relationships related to derivatives and related securities between members or participants, and other related acts from all taxes.
Source: taxheaven.gr
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
