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Greece - Joint Liability of Shareholders for Taxes Owed by a Corporation: The New Greek Rule

Country:
Greece
Author:
E.I. Stavropoulou
Issue:
European Taxation, 2016 (Volume 56), No 10
Published:
14 September 2016
This note examines a new rule imposing personal liability on shareholders for the outstanding taxes due by their corporation, in particular, whether the rule is efficient as a means of controlling opportunistic behaviour. As the new rule disregards the fundamental principle of limited liability, it has far-reaching implications for equity investment. In this regard, the note considers the potential cost of the rule and critically assesses the adequacy of legal safeguards provided for by the legislator.
 
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