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Foreign Digital Marketing Agencies in Greece to get a Tax break

Foreign Digital Marketing Agencies

Greece is framing a law that will deliver a hefty tax incentive to employees who move there from abroad, to do more professional jobs and rebound its crisis-era brain-drain, an advisor to the prime minister informed the public.

The opportunity for growth with digital marketing agencies in Athens and rest of Greece is massive, with only 25% of business online.So the Greek government is taking the initiative to increase the digital brain pool and website developers in Greece.

This includes Social media marketing agencies with over 82% of Adults in Greece on Facebook. The value the these type of businesses can bring to the economy would bring Greece inline with some other progressive European nations that are seeing success with digital economic strategies.

Economist says regarding foreign digital marketing agencies law

Alex Patelis, who suggests Prime Minister Kyriakos Mitsotakis on economic issues, said Greece hoped to attract “digital migrants” after the coronavirus pandemic revved a shift to remote working in many nations and sectors.

“An employee from abroad who repositions to Greece will be qualified for a 50% immunity on income acquired in Greece for seven years under the program,” he said on Wednesday, adding that legislation will be conveyed to parliament by the end of this year.

Patelis said the government aimed to produce jobs, either through a personal moving to Greece or a business relocating a staffer to the country. The incentive package will be accessible only during 2021, and people who have not a Greek tax resident from the last seven years will be qualified.

“The primary bar for eligibility for the tax incentive is tax residence,” Patelis said.

There will be no limitations on classes of income or types of work. However, the government expects to attract experts and to lure back some of the estimated 800,000 Greeks who left during the years-long debt situation to seek careers abroad.
“An additional push is required to see them return,” Patelis said.

“The COVID pandemic has also shown that it is viable in multiple cases for one to decide where to work and live all because of technology. We can have digital migrants.”

Athens also sees a potential “Brexit bonus” from offering a tax incentive for individuals who want to leave the United Kingdom following its exit from the European Union to transfer their jobs to Greece.
“We just wish to get a share of that pie,” Patelis said.

Also read easy steps to market your business.

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