As of this year if shares acquired upon stock option exercise are held for at least 24 months from the date of grant the proceeds from the sale of such shares will be taxed at a flat-tax rate of 15%. Note that in the case of a start-up company (as defined by Greek law), stock options are eligible to be taxed at a flat rate of 5% (rather than 15%), in addition to tax deferral, provided that the shares acquired upon stock option exercise are sold at least 36 months after the grant of such options. At this time, it does not appear that such favorable tax treatment is available for other types of stock awards.

In addition, note that a solidarity surcharge will now be imposed on all equity income (including RSUs, purchase plans, etc.) at the time shares are acquired.

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