According to Law 4446/22.12.2016, there shall be transactions via electronic means of payment applicable from 01.01.2017 and onwards which shall be tax deductible.



Payroll payment via electronic means

From 2016  December 22nd and onwards, any employer paying remuneration fee amounts in cash, looses the deduction right from the taxable income and therefore faces the risk with an additional taxation. More specifically, from this specific date and onwards, personnel payroll expenses, fees for those working on services rendering status, as well as fees of directors or members of the Board of Directors, such as lawyers' standard fees (which are included as an example in the expenses performed within the framework of the employment relationship), are deductible from the companies' gross income, provided that their partial or whole repayment has been realized by using electronic means of payment or through payment services. In case those expenses are paid via cash, they are no longer deductible (Article 72, Paragraph id). 



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