Greece: Plans for reduction of withholding taxes for RES projects licenses

, SEE Energy News

Greek Ministry of Energy is planning to propose a reduction of withholding taxes for renewable energy projects whose licenses were issued during 2017, 2018 and 2019.

The tax will be reduced to a third of its regular amount (1,000 euros per MW per year) and will be payable in two installments. This is significantly higher compared to initial proposal, which envisaged 50 % tax cut.

The amendments on these tax cuts should be included in a draft bill regarding various environmental issues, which should be submitted to the Parliament soon. Greek Government plans to abolish this withholding tax for RES licenses issued as of 2020 as part of a series of key changes aiming for investor-friendly simplification of the RES licensing procedure.