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5 Reasons to Convert Your Sole Proprietorship into a Corporation

The Ministry of Finance suggests tax incentives with deductions of up to 50% for up to 9 years for businesses undergoing transformation.

Detailed tax incentives:

1. Deduction Up to 50%

Income tax exemption of 30% or 50% for up to 9 years for business transformations, with a minimum cumulative business turnover.

2. Total Benefit Up to €500,000

In the case of business transformation or contribution of a sole proprietorship, the tax benefit can reach €500,000.

3. Possibility of Offsetting and Carrying Forward Losses

Carrying forward losses to the balance sheet of the new business and tax offsetting against profits, under certain conditions.

4. Deduction of Expenses for Business Acquisition:

Recognition of deduction for expenses of acquiring titles in case of business acquisition.

5. 50% Exemption from Income Tax for Partnerships of Individuals with Agriculture as their Main Occupation.

For more details, you can view the seminar conducted by EPIDOSISon the bill for converting a sole proprietorship into a corporation:

You can send us a message on the Contact FormFormor you can call at our offices in Athens 2106810690 or in Thessaloniki 2310477725 to analyse all the above.

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