All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, or stored in any retrieval system of any nature without prior permission of the publisher. Application for permission for other use of copyright material including permission to reproduce extracts in other published works shall be made to the publisher. Full acknowledgment of author, publisher and source must be given. Nothing in this newsletter shall be construed as legal advice. Professional advice should therefore be sought before any action is undertaken based on this publication.

As of December 2019, Greece rolled out a tax reform (Law 4646/2019), aiming - among others - to attract High Net Worth Individuals (HNWIs) to relocate their tax domicile to Greece and opt for being subjected to an attractive tax regime for the income they generate outside Greece.

All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, or stored in any retrieval system of any nature without prior permission of the publisher. Application for permission for other use of copyright material including permission to reproduce extracts in other published works shall be made to the publisher. Full acknowledgment of author, publisher and source must be given. Nothing in this newsletter shall be construed as legal advice. Professional advice should therefore be sought before any action is undertaken based on this publication.

On the 25th of February, the Greek Government passed (and published on the Government Gazette) a Legislative Act termed "Urgent Measures for Avoidance and Restriction of Spreading Coronavirus (COVID-19)".
The measures contained in the 5 Articles of the Legislative Act may be imposed and had they come into effect, they should further be defined by Ministerial Decisions of the competent Ministries.

We are thrilled to announce that panelists and judges on IFLR1000 The guide to the world’s leading financial and corporate law firms have listed Valmas Associates with the esteemed ranking institution.
IFLR is the market-leading financial law publication for lawyers in financial institutions, corporates and private practice.  IFLR was first published in 1982.
IFLR1000 is the guide to the world's leading financial and corporate law firms and lawyers covering the business of law in over 120 jurisdictions worldwide.

All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, or stored in any retrieval system of any nature without prior permission of the publisher. Application for permission for other use of copyright material including permission to reproduce extracts in other published works shall be made to the publisher. Full acknowledgment of author, publisher and source must be given. Nothing in this newsletter shall be construed as legal advice. Professional advice should therefore be sought before any action is undertaken based on this publication.

This article examines the possible implications and viability of claiming force majeure in the light of disruptions to global trade that the recent COVID-19 outbreak has caused.

All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, or stored in any retrieval system of any nature without prior permission of the publisher. Application for permission for other use of copyright material including permission to reproduce extracts in other published works shall be made to the publisher. Full acknowledgment of author, publisher and source must be given. Nothing in this newsletter shall be construed as legal advice. Professional advice should therefore be sought before any action is undertaken based on this publication.

EU countries lost €137 billion in Value-Added Tax (VAT) revenues in 2017 according to a study released by the European Commission in September 2019. The loss in VAT revenue has prompted some critical actions by the European Commission and initiated some changes to the EU VAT rules and accounting processes.  The major changes, under EU VAT legislation, do not take effect until 2022 or later, but there are some immediate steps that the EU implemented that took effect on Jan. 1, 2020.
These are referred to collectively as the Quick Fixes, and will impact businesses engaged in cross border trade involving the movement of goods.

There are four Quick Fixes that have taken effect and as of Jan. 1, 2020 businesses should have been taking action accordingly, so that they remain in compliance.