Following an issued opinion, (287/2016) of the Legal Council of State which was approved by the Governor of the Independent Public Revenue Authority:

• Dividends received by shareholders of foreign ship-owning company who are Greek residents when a foreign ship is operated by a foreign company through an office established in Greece under the provisions of the Article 25 of Law 27/1975, irrespective of the person who entrusted the management, are exempt from income tax.
• Under this provision the dividends received by shareholders of foreign company, resident in Greece, which manages foreign flagged ship, through an office established in Greece are not exempt from income tax.
• Profits of the foreign freight company and the dividends paid to its shareholders are not exempt from income tax.