The 2022 France-Greece tax treaty, article by article

France and Greece signed a new tax treaty on May 11, 2022, which came into effect on January 1, 2024. It replaces the 1963 treaty; the official tax records classify it as income tax only. It caps withholding taxes at 15% on dividends and 5% on interest and royalties, establishes a 183-day period over twelve months for employees, and provides for arbitration. This page presents the articles we have read in the official text and explains what it does not cover.

A recent text: signed in 2022, implemented since 2024

The convention was signed in Athens on May 11, 2022, with a protocol forming an integral part thereof. The BOFiP (Official Bulletin of Public Finances) indicates authorization for ratification by Law No. 2023-1232 of December 22, 2023, publication by Decree No. 2024-16 of January 9, 2024, and entry into force on December 30, 2023. It applies from January 1, 2024, for withholding taxes (depending on the taxable event) and for other income taxes (depending on the periods beginning on that date). The administrative list of conventions classifies it as follows: "C May 11, 2022 (Official Journal of January 10, 2024)," income tax only.

It replaces the convention signed in Athens on August 21, 1963. Article 30 requires a notice of denunciation of at least six months before the end of a calendar year.

Taxes covered: CSG and CRDS are included

Article 2 lists, for France, income tax, corporation tax, contributions on corporation tax, generalized social contributions, and contributions for the repayment of social debt, including withholding taxes. For Greece, it covers personal income tax, including the special solidarity contribution, and corporate income tax.

The list in Article 2, paragraph 3, does not mention the IFI (French Wealth Tax), the ENFIA (French National Institute of Real Estate Assets), or inheritance tax. Article 2, paragraph 4, further covers taxes of an identical or similar nature. This page does not resolve the application of the convention to the IFI.

Who is a resident: Article 4

A resident of a State is a person who is liable to tax there by reason of their domicile, residence, place of management, or a similar criterion, excluding those taxed solely on locally sourced income. In the case of dual residence, paragraph 2 considers, in order: the permanent home; if you have one in each State, the center of vital interests; the habitual abode; nationality; and finally, the agreement of the competent authorities.

Maximum deductions and key rules

Dividends: 0 % or 15 %, and the certificate of article 28

The 0% withholding tax rate assumes that the beneficial owner is a company resident in the other state, which directly holds at least 5% of the capital for 24 months including the payment date. For an individual, the limit is 15% of the gross amount. The text does not define "beneficial owner." To benefit from Articles 10, 11, and 12, Article 28, paragraph 2, requires, unless otherwise decided by the authorities, a certificate of tax residence issued by the tax administration of the other state. On a dividend of €20,000 paid by a Greek company to an individual resident in France, the Greek withholding tax cannot exceed €3,000.

Capital gains: Article 13 § 4 and the 365-day rule

Excluding real estate and the exceptions in Article 13, the gain is taxable only in the state of residence of the transferor. An exception applies to shares in companies with a significant real estate component: the gain is taxable in the state where the property is located if, at any time during the 365 days preceding the transfer, the shares, rights, or similar interests derive more than 50% of their value from real estate located in that state. Real estate that the company uses for its own business operations does not count. We have not seen any exceptions for listed companies or for minority shareholders: the full text should be reviewed before any transfer.

Three missions to Greece over twelve months: a numerical example (fictitious profile)

Article 14 § 2 reserves taxation to the State of residence if three conditions are met: a stay in the other State not exceeding in total 183 days during any period of twelve months beginning or ending during the tax year concerned; an employer not resident in the other State; remuneration not borne by a permanent establishment of the employer in that State.

Situation. A female employee residing in France, a fictitious profile, employed by a French company, undertakes three missions in Greece: 45 days from April 6 to May 20, 2026, 61 days from September 14 to November 13, 2026, 87 days from January 4 to March 31, 2027.

Issue. It has 106 days in 2026 and expects to remain under 183 days.

Strategy. It counts the days over the twelve-month period that begins on April 1, 2026, since the article considers any twelve-month period beginning or ending during the fiscal year.

Result. All three missions fall between April 1, 2026, and March 31, 2027. This period totals 193 days: the threshold of 183 days is exceeded by 10 days, while the calendar year 2026 only has 106 days. The duration requirement is not met: the exception does not apply to this exercise, and the other two conditions do not change anything to this extent. The profile and dates are fictitious.

Pensions, civil service, teachers

Article 17 reserves pensions paid for previous employment to the beneficiary's State of residence, subject to Article 18(2) concerning public pensions. Article 18 allocates public remuneration to the State that pays it, except for residents of the other State who hold that State's nationality without possessing that of the first. Point 6 of the Protocol allows, upon request, the application of these rules to periods beginning on or after January 1, 2015. Article 19 exempts visiting teachers and researchers for 24 months.

Double taxation: the French tax credit under Article 21

For France, Article 21 § 1 a) provides that income taxable in Greece is taken into account for the calculation of French tax when it is not exempt from corporation tax under French domestic law, and that France grants a tax credit. This credit takes two forms. In the first case (i), the credit is equal to the corresponding French tax, provided that the resident is subject to Greek tax on this income. In the second case (ii), particularly for income covered by Articles 10, 11, and 12, paragraphs 1 and 4 of Article 13, and paragraphs 1 and 2 of Article 16, the credit corresponds to the Greek tax actually paid, capped at the corresponding French tax. For income subject to corporation tax under Articles 7 and 13 § 2, the text establishes the same rule of a credit equal to the Greek tax paid. The complete list in ii) is verified in the text of Article 21. Greece grants, on the side of Greek residents, a deduction equal to the tax paid in France, capped at the fraction of Greek tax relating to income taxable in France.

Disputes: amicable procedure within three years, then arbitration

Article 23 requires that the case be submitted within three years of the initial notification of the measure. If the authorities cannot reach an agreement, arbitration is possible upon written request from the individual, provided no agreement has been reached three years after all the requested information has been provided. Arbitration is not possible if a court has already ruled on the matter.

Exchange of information and anti-abuse clause

Article 24 governs the exchange of information that is likely to be relevant. Paragraph 5 prohibits withholding information solely because a bank possesses it. Article 27 denies a treaty benefit if it is reasonable to conclude that obtaining it was one of the principal objectives of an arrangement, unless its granting is consistent with the object and purpose of the agreement.

Inheritance and gifts

The administrative list classifies Greece as subject to income tax only, without mentioning inheritance or gift tax, and Article 2 does not address these taxes. This page provides no further information: inheritance and gift tax are governed by both French and Greek law.

What this page does not cover

Articles 7, 8, 9 and 16, the application to the IFI, and the possible effect of other multilateral instruments: the BOFiP read does not mention the multilateral instrument.

What changes depending on your situation

• Your residence as defined in Article 4.
• The nature of the income: dividend, interest, royalty, salary, pension, gain.
• The number of days spent in Greece in each twelve-month period.
• Whether or not you hold your securities directly and their real estate composition.
• Your status as an individual or a company.

An article should be read in light of the facts in your case. No outcome is guaranteed.