How are entities ranked based on their size?
According to article 2 of Law 4308/2014 (Government Gazette 251 A), the designated entities, according to article 1 of the same law, are classified based on their size, as follows:
1. Large entities: These are the entities that at the closing date of their balance sheet exceed the limits of at least two of the following three criteria:
- Total assets: 20,000,000 euros.
- Net turnover: 40,000,000 euros.
- Average number of employees during the fiscal period: 250 people.
2. Medium-sized entities: They are entities that are not very small or small entities and which at the balance sheet date do not exceed the limits of at least two of the following three criteria:
- Total assets: 20,000,000 euros.
- Net turnover: 40,000,000 euros.
- Average number of employees during the fiscal period: 250 people.
3. Small entities: They are entities that are not very small entities and at the balance sheet date do not exceed the limits of at least two of the following three criteria:
- Total assets: 4,000,000 euros.
- Net turnover: 8,000,000 euros.
- Average number of employees during the fiscal period: 50 people.
4. Very small entities: These are entities that at the balance sheet date do not exceed the limits of at least two of the following three criteria:
- Total assets: 350,000 euros.
- Net turnover: 700,000 euros.
- Average number of employees during the fiscal period: 10 people.
Very small entities (par. 2c, art. 1): Especially the entities of paragraph 2 (c) of article 1 (ie: The limited liability company, the general partnership, the sole proprietorship and any other private sector entity that is obliged to application of this law by tax or other legislative provision) are included in the category of very small entities with the only condition that their turnover does not exceed the amount of 1,500,000 euros.
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