Greece – USA Inheritance Tax Treaty (1950)

Protocol (1964) amending Transfer Tax Agreement (1950)

This Treaty was signed on February 12, 1964 and entered into force on October 27, 1967.

PROTOCOL MODIFYING AND SUPPLEMENTING THE CONVENTION OF FEBRUARY 20, 1950 BETWEEN THE KINGDOM OF GREECE AND THE UNITED STATES OF AMERICA RELATING TO TAXES ON ESTATES

The Government of the United States of America and the Government of the Kingdom of Greece, desiring to conclude a Protocol modifying and supplementing the Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on the estates of deceased persons, signed at Athens on February 20, 1950 have appointed for this purpose their respective representatives, who have agreed as follows:

Article I.

The Convention of February 20, 1950 for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on the estates of deceased persons is amended as follows:

a) The title of the aforesaid Convention is amended as follows:

“Convention between the Kingdom of Greece and the United States of America for the avoidance of double taxation and the prevention of fiscal evasion with respect on taxes on the movable property estates of deceased persons”.

Moreover, the Preamble to the Convention is similarly amended:

“The Government of the Kingdom of Greece and the Government of the United States of America, desiring to conclude a Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on the movable property estates of deceased persons…“

b) Article III of the said Convention shall be deemed to be deleted and of no further effect.

c) Subparagraphs a) to i) inclusive of paragraph 2 of article IV of the said Convention shall be deemed to be relettered b) to j) inclusive and there shall be deemed to be inserted in Article IV a new subparagraph a) reading as follows:

a) “The provisions of the present Convention shall be deemed as not applicable to immovable property situated in either Greece or the United States.

Immovable property shall be deemed to be situated at the place where the land involved is located. The question whether any property or right in property constitutes immovable property shall be determined in accordance with the law of the place where the land involved is located”.

Article II.

1. The present Protocol shall be ratified and the instruments of ratification shall be exchanged at Athens as soon as possible.

2. The present Protocol shall enter into force upon the exchange of instruments of ratification.

3. The present Protocol shall continue in effect as long as the aforesaid Convention of February 20, 1950 remains effect.

Done at Athens, in duplicate, in the Greek and English languages the two texts having equal authenticity, this 12th day of February 1964.

FOR THE GOVERNMENT OF THE
UNITED STATES OF AMERICA
HENY R. LABOUISSE
     [SEAL]
FOR THE GOVERNMENT OF
THE KINGDOM OF GREECE
   C. PALAMAS
      [SEAL]