{"id":49364,"date":"2023-12-07T08:00:31","date_gmt":"2023-12-07T08:00:31","guid":{"rendered":"https:\/\/epidosis.gr\/EpidosisBlog\/?p=49364"},"modified":"2023-12-18T13:38:57","modified_gmt":"2023-12-18T13:38:57","slug":"individual-business-to-private-company-benefits-and-how-to-proceed","status":"publish","type":"post","link":"https:\/\/epidosis.gr\/en\/individual-business-to-private-company-benefits-and-how-to-proceed\/","title":{"rendered":"Individual Business to Private Company: Benefits and How to Proceed"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"49364\" class=\"elementor elementor-49364 elementor-49363\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a443e0e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a443e0e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f645fa4\" data-id=\"f645fa4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ef6f878 elementor-widget elementor-widget-text-editor\" data-id=\"ef6f878\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>With the new tax legislation, tax authorities will deny the right to professionals &#8211; namely, individual businesses &#8211; to incur losses. Consequently, only the minimum taxable income will be accepted, taxed accordingly, and, of course, allowances or other privileges will be cut as soon as the &#8220;theoretical income&#8221; aligns with the actual income. In reality, starting from 2023, individual businesses will have three income sources:<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1abfd6b elementor-widget elementor-widget-text-editor\" data-id=\"1abfd6b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul>\n<li>Accounting Income: This is based on the books but will only be considered if it exceeds the other two sources.<\/li>\n<li>Minimum Taxable Income: Calculated using a new method, ranging from \u20ac10,920 to \u20ac50,000 annually, provided there are no special conditions.<\/li>\n<li>Income based on Living Expenses: This will continue to be calculated based on living expense documents and will not be abolished.<\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6420c2a elementor-widget elementor-widget-heading\" data-id=\"6420c2a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The solution of converting the individual business into a Private Company is already being highlighted as an alternative within the accounting community.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4d983db elementor-widget elementor-widget-image\" data-id=\"4d983db\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1000\" height=\"580\" src=\"https:\/\/epidosis.gr\/wp-content\/uploads\/2023\/12\/Blog_\u03912_051223_Epidosis.png\" class=\"attachment-large size-large wp-image-49351\" alt=\"\" srcset=\"https:\/\/epidosis.gr\/wp-content\/uploads\/2023\/12\/Blog_\u03912_051223_Epidosis.png 1000w, https:\/\/epidosis.gr\/wp-content\/uploads\/2023\/12\/Blog_\u03912_051223_Epidosis-300x174.png 300w, https:\/\/epidosis.gr\/wp-content\/uploads\/2023\/12\/Blog_\u03912_051223_Epidosis-768x445.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-85c6dcf elementor-widget elementor-widget-heading\" data-id=\"85c6dcf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-large\">Advantages:\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6757ccd elementor-widget elementor-widget-text-editor\" data-id=\"6757ccd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul>\n<li>Indefinite Duration: A Private Company can now exist not only for a specified period but also indefinitely.<\/li>\n<li>Taxation of Profits: Private Companies are consistently taxed at 22%, regardless of the amount of profit. The prepayment rate is 40% for the first 3 years from the year of establishment and 80% thereafter.<\/li>\n<li>Taxation of Dividends: Dividends are taxed at a rate of 5%.<\/li>\n<li>Zero Initial Capital: The initial capital for establishing can be as low as \u20ac0.<\/li>\n<li>Easy Formation: Formation is done through registration in the General Commercial Registry (GCR), creating both essential organs of the company: the partners&#8217; assembly and the company manager.<\/li>\n<li>Protection of Personal Assets: The partner&#8217;s personal assets are protected, as they are never at risk for the company&#8217;s obligations<\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b2ae028 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b2ae028\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-634c93e\" data-id=\"634c93e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d15f923 elementor-widget elementor-widget-text-editor\" data-id=\"d15f923\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-family: GothamGRMedium, sans-serif, \"Proxima Nova\", sans-serif; font-size: 1rem; font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-4);\">You can send us a message on the&nbsp;<\/span><strong style=\"font-size: 1rem; font-style: inherit; color: rgb(0, 0, 0); background-color: var(--ast-global-color-4);\"><a style=\"color: #000000;\" href=\"https:\/\/epidosis.gr\/contact\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/epidosis.gr\/contact&amp;source=gmail&amp;ust=1682768182473000&amp;usg=AOvVaw3ySEhDn_ynTjCq-mHLnJpj\"><span style=\"color: #ff6600;\">Contact Form &nbsp;<\/span><\/a><\/strong><span style=\"font-family: GothamGRMedium, sans-serif, \"Proxima Nova\", sans-serif; font-size: 1rem; font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-4);\">or you can call at our offices in Athens &nbsp;<\/span> <strong style=\"font-size: 1rem; font-style: inherit; color: rgb(0, 0, 0); background-color: var(--ast-global-color-4);\"><span style=\"color: #ff6600;\"><a style=\"color: #ff6600;\" href=\"tel:+302106810690\" target=\"_blank\" rel=\"noopener\">2106810690<\/a><\/span><\/strong><span style=\"font-family: GothamGRMedium, sans-serif, \"Proxima Nova\", sans-serif; font-size: 1rem; font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-4);\"> on in Thessaloniki <\/span><strong style=\"font-size: 1rem; font-style: inherit; color: rgb(0, 0, 0); background-color: var(--ast-global-color-4);\"><span style=\"color: #ff6600;\"><a style=\"color: #ff6600;\" href=\"tel:+302310477725\" target=\"_blank\" rel=\"noopener\">2310477725 <\/a><\/span><\/strong><span style=\"font-family: GothamGRMedium, sans-serif, \"Proxima Nova\", sans-serif; font-size: 1rem; font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-4);\">to set the date of the seminar.<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9242aad elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9242aad\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-02e4862\" data-id=\"02e4862\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-88f03b5 elementor-widget-divider--view-line_icon elementor-view-default elementor-widget-divider--element-align-center elementor-widget elementor-widget-divider\" data-id=\"88f03b5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon elementor-divider__element\">\n\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-book-open\" viewBox=\"0 0 576 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M542.22 32.05c-54.8 3.11-163.72 14.43-230.96 55.59-4.64 2.84-7.27 7.89-7.27 13.17v363.87c0 11.55 12.63 18.85 23.28 13.49 69.18-34.82 169.23-44.32 218.7-46.92 16.89-.89 30.02-14.43 30.02-30.66V62.75c.01-17.71-15.35-31.74-33.77-30.7zM264.73 87.64C197.5 46.48 88.58 35.17 33.78 32.05 15.36 31.01 0 45.04 0 62.75V400.6c0 16.24 13.13 29.78 30.02 30.66 49.49 2.6 149.59 12.11 218.77 46.95 10.62 5.35 23.21-1.94 23.21-13.46V100.63c0-5.29-2.62-10.14-7.27-12.99z\"><\/path><\/svg><\/div>\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-dce9163 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"dce9163\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-458179b\" data-id=\"458179b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>With the new tax legislation, tax authorities will deny the right to professionals &#8211; namely, individual businesses &#8211; to incur losses. Consequently, only the minimum taxable income will be accepted, taxed accordingly, and, of course, allowances or other privileges will be cut as soon as the &#8220;theoretical income&#8221; aligns with the actual income. In reality, [&hellip;]<\/p>\n","protected":false},"author":36,"featured_media":49339,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[27,28,29,14],"tags":[],"class_list":["post-49364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-en","category-blog","category-newsletter-en","category-14"],"acf":[],"_links":{"self":[{"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/posts\/49364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/comments?post=49364"}],"version-history":[{"count":1,"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/posts\/49364\/revisions"}],"predecessor-version":[{"id":49365,"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/posts\/49364\/revisions\/49365"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/media\/49339"}],"wp:attachment":[{"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/media?parent=49364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/categories?post=49364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/tags?post=49364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}