The granting of a loan by written agreement from a legal entity or legal entity to an employee (partner or shareholder) is a benefit in kind. The benefit is determined by tax year and is calculated in the month in which it was made. the difference between the interest calculated on the basis of the average purchase interest rate and the interest paid by the employee & nbsp; on the basis of the written contract. the total of the initial capital is taken.

The average purchase interest rate is the interest rate on bank loans in euros, to individuals, according to the methodology defined by the Bank of Greece per month, per category and per sub-category of loan. In case of a salary advance of more than three months, the interest rate is the lowest of the interest rates of each loan category & nbsp; from the table of the Bank of Greece, as they apply during the month of granting the advance. The loan agreement must state the purpose, otherwise the interest rate will be taken as set by the Bank of Greece for current account overdrafts, which is much higher than the interest rates of the other categories.

The above applies to income earned from 1/1/2014 onwards.

Due to the fact that their valuation of benefits in kind (article 13 of N.4172 / 2013 & nbsp;) is almost impossible at the time of their administration, with & nbsp; POL.1072 / 2015 & nbsp; it was accepted that & nbsp; no tax is withheld on these benefits & nbsp; but the tax due is calculated upon the declaration that their value increases the income from paid work of the beneficiaries.

A salary advance of more than three (3) months , & nbsp; are considered a loan & nbsp; by the company to the employees. Therefore, for advance payments of wages up to three months, no additional benefit in kind is calculated for income tax purposes.

In the case of & nbsp; salary advances, which are paid through monthly deductions from the salaries & nbsp; of employees, there is a loan relationship and it is subject to 3% stamp duty or 2% plus a 20% OGA contribution.

It should be noted that special attention should be paid to these amounts granted to employees, as they are treated differently from Income Tax and Stamp Fees Taxation table below, helps to understand the application of cases by category.