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HEAD-TO-HEAD TAX COMPARISON · 2026

COUNTRY A Turkey VS COUNTRY B Greece

Side-by-side analysis of income tax, effective rates, and take-home pay for Turkey and Greece in 2026.

Daniel · CountryTaxCalc Updated October 2026 Tax Comparison 2026
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OVERVIEW
Turkey and Greece sit across the Aegean and attract overlapping groups of expats — particularly retirees, remote workers, and Mediterranean lifestyle seekers. Turkey's income tax (15–40% progressive) looks competitive on paper, but with SGK social contributions of about 15% (capped at a high TRY ceiling), stamp tax, high inflation and TRY depreciation the total burden is heavier than it first appears. Greece's 44% top rate (above €60,000 of taxable income) plus EFKA social contributions (~13.37%) make it one of Europe's more expensive countries for professional salaries — but Greece offers exceptional special regimes: a 7% flat rate on foreign pension income for foreign retirees (for 15 years), and a 50% income exemption for new residents taking employment in Greece (for 7 years). On our wage-only figures, Greece takes less than Turkey at €30,000-€60,000 (about €1,800-€2,100 a year less), the two cross somewhere between €60,000 and €80,000, and Turkey takes less from about €80,000 upward (about €3,700 less at €100,000) — and currency risk and TRY purchasing power are critical considerations for expats choosing Turkey. Both columns in the table come from our single-employee wage calculators (resident employee, wages only, no dependants). Turkish income tax includes stamp tax and the 2026 wage tariff; Turkish SGK is the employee 14% plus 1% unemployment, capped at TRY 297,270 a month. Turkey's calculator rests on some secondary-source readings, so treat the Turkish column as an estimate. EUR incomes are converted to TRY at about 55.2 TRY per EUR (ECB reference rate of 2 October 2026).
Section 01

The Big Picture

Top-line rates and effective take-home for a typical earner — including income tax, social contributions, and applicable surcharges.

🇹🇷
COUNTRY A
Turkey
TAX RATE
40%
Top Rate

Plus SGK employee contributions ~15% (14% + 1% unemployment; capped at TRY 297,270/month)

🇬🇷
COUNTRY B
Greece
TAX RATE
44%
Top Rate (above €60,000 taxable)

Plus EFKA social contributions ~13.37%

TYPICAL ANNUAL DIFFERENCE
Moving from Turkey → Greece at €60,000
€1,760

At €60,000 Turkey costs about €1,760 a year more than Greece in income tax plus employee social contributions on our wage-only figures; Turkey becomes cheaper from roughly €80,000 upward.

Section 02

Tax Savings by Income Level

Net take-home after all income tax, social contributions, and surcharges — for a single employee with no dependents.

GROSS INCOME
🇹🇷 TR TAX
🇬🇷 GR TAX
SAVINGS
10-YEAR
€30,000 (~TRY 1,655,000)
~€5,330 income tax incl. stamp tax (~18%) + ~€4,500 SGK = ~€9,830 (~33%)
~€3,960 income tax + ~€4,011 EFKA = ~€7,971 (~27%)
Greece saves ~€1,860
€18,600
€50,000 (~TRY 2,758,000)
~€11,300 income tax incl. stamp tax (~23%) + ~€7,500 SGK = ~€18,800 (~38%)
~€10,042 income tax + ~€6,685 EFKA = ~€16,727 (~33%)
Greece saves ~€2,070
€20,700
€60,000 (~TRY 3,310,000)
~€14,350 income tax incl. stamp tax (~24%) + ~€9,000 SGK = ~€23,350 (~39%)
~€13,571 income tax + ~€8,022 EFKA = ~€21,593 (~36%)
Greece saves ~€1,760
€17,600
€80,000 (~TRY 4,413,000)
~€21,250 income tax incl. stamp tax (~27%) + ~€9,700 SGK (capped) = ~€30,950 (~39%)
~€20,794 income tax + ~€10,696 EFKA = ~€31,490 (~39%)
Turkey saves ~€540
€5,400
€100,000 (~TRY 5,517,000)
~€28,410 income tax incl. stamp tax (~28%) + ~€9,700 SGK (capped) = ~€38,100 (~38%)
~€28,417 income tax + ~€13,370 EFKA = ~€41,787 (~42%)
Turkey saves ~€3,690
€36,900
🇹🇷

Turkey Pros & Cons

+ PROS
  • Lower combined burden than Greece at higher salaries — from roughly €80,000 upward Turkey's total is below Greece's (about €3,700 less at €100,000) because SGK stops at a ceiling of TRY 297,270 a month (about €5,400), capping employee contributions at about €9,700 a year; at €30,000-€60,000 Greece is cheaper
  • No capital gains tax on property held more than 5 years — Turkey has relatively light taxation on long-term property appreciation, relevant for the large expat real estate investor community
  • Lower cost of living: Istanbul, Antalya, and Bodrum offer high quality of life at a fraction of Greek island or Athens costs — the effective purchasing power advantage over Greece is substantial
  • Long-term residence permit accessible: Turkey's residence permit for foreign nationals (oturma izni) is relatively straightforward to obtain — particularly for retirees and property owners
− CONS
  • TRY currency risk: Turkey's lira has lost ~90% of its value against the EUR since 2018 — expats earning in TRY face significant purchasing power erosion; those earning in EUR or USD are partially insulated but the economic environment adds uncertainty
  • High inflation environment: Turkey's inflation has run at 40–85% annually in recent years — brackets and thresholds are adjusted, but purchasing power planning is complex
  • No EU membership: Turkey is not an EU member, limiting freedom of movement, banking access, and legal protections that matter to European expats
  • Limited double tax treaty network for pension income: Turkey's treaty with some countries may not provide as favourable treatment for foreign pension income as Greece's EU-based treaty network
🇬🇷

Greece Pros & Cons

+ PROS
  • 7% flat rate on foreign pension and investment income: Greek retirees from abroad who transfer tax residency to Greece pay a flat 7% on all foreign-source income for up to 15 years — one of the world's most competitive retirement tax regimes
  • 50% income exemption for new workers: foreign nationals and returning Greeks who take up employment in Greece after living abroad for at least 3 of the last 5 years may exempt 50% of their Greek employment income from income tax for 7 years
  • EU member state with Euro: Greece offers the security of EU legal protections, free movement within the EU, eurozone stability, and access to the EU banking system
  • Greek Golden Visa: investment of €250,000–€800,000 in Greek real estate (threshold varies by region) provides a 5-year renewable residence permit — extensively used by non-EU nationals relocating to Greece
− CONS
  • 44% top income tax rate above €60,000 of taxable income; Greek professionals and high earners face a steeply progressive system
  • EFKA contributions ~13.37%: main pension 6.67%, supplementary pension 3.00%, healthcare 2.05%, unemployment and co-collected 1.65% — add substantially on top of income tax, particularly at mid-income levels
  • Greek bureaucracy and tax compliance: AADE (tax authority) reporting requirements, AFM registration, and property transactions in Greece are notoriously slow — a tax adviser (logistis) is essentially mandatory
  • Higher cost of living than Turkey: Athens and popular Greek islands (Santorini, Mykonos) are expensive by Mediterranean standards; the lower-cost mainland advantage diminishes the closer to Athens or tourist centres you live
FAQ

Frequently Asked Questions

What is Greece's 7% flat rate for foreign retirees?

Greece offers qualifying foreign retirees a flat 7% tax rate on all foreign-source income (pensions, dividends, rental income, capital gains) for up to 15 years. To qualify: you must not have been a Greek tax resident for the prior 5 years out of 6; and you must transfer your tax residency to Greece. The annual fee is a flat tax payment: 7% of all foreign income. This is separate from income derived from Greek sources, which is taxed at normal rates. The regime applies once per lifetime and is renewable annually. With a €60,000 foreign pension, you pay €4,200 in Greek tax — compared to €26,000+ in France or €30,000+ in Germany.

How does Turkey's income tax work for expats?

Turkey taxes wages on a progressive tariff with five bands: 15% up to TRY 190,000, 20% to TRY 400,000, 27% to TRY 1,500,000, 35% to TRY 5,300,000 and 40% above that (2026 wage-earner tariff; adjusted annually for inflation), with a minimum-wage exemption and stamp tax of 0.759% on wages. Employee SGK contributions are 14% (pension 9% + health 5%) plus 1% unemployment insurance, capped at a monthly ceiling of TRY 297,270 (about €5,400 a month at 55.2 TRY per EUR) — so the contribution burden stops rising at roughly €9,700 a year and falls as a percentage of income above about €65,000. Turkish tax residents pay income tax on worldwide income; those earning foreign-source income without working in Turkey may have more complex arrangements.

Is the Greek Golden Visa still available?

Yes, though the thresholds increased significantly in 2024 and 2025. The minimum investment in residential real estate in most of Greece is now €400,000 (increased from €250,000). In specific areas — islands above 3,100 residents, certain Athens districts, and Thessaloniki — the threshold is €800,000. Other investment types (government bonds, company equity, bank deposits) have different thresholds. The Golden Visa provides a 5-year renewable Greek residence permit, free movement in the Schengen area, and a path to apply for Greek citizenship after 7 years of residence. It does not require physical presence in Greece.

Can US expats live in Turkey or Greece and still minimise US taxes?

US citizens are taxed on worldwide income regardless of where they live. In Turkey: there is a US-Turkey tax treaty, and the Foreign Tax Credit (FTC) can offset US tax on Turkish-source income already taxed in Turkey. In Greece: there is a US-Greece tax treaty; the same FTC mechanism applies. Greece's 7% pensioner flat rate is very low — potentially leaving more residual US tax liability than in high-tax countries where the FTC fully offsets US tax. For US expats optimising both local and US tax, specialist advice is essential in both countries. Annual US returns, FBAR (if bank accounts exceed $10,000), and potentially Form 8938 (FATCA) are required.

Is Turkey or Greece better for a Mediterranean retirement?

For pure tax efficiency on foreign pension/investment income: Greece's 7% flat rate is exceptional — hard to beat globally for retirees with significant foreign income. At €80,000 foreign pension, Greece charges €5,600/year under the regime vs Turkey's ~€24,000. Greece also offers EU stability, healthcare access (EKPY public health for residents), and eurozone banking. Turkey wins on cost of living — Istanbul and Antalya are substantially cheaper than Athens and the islands — and currency hedging (if you spend in TRY but earn in EUR/USD, your purchasing power is high). For EU citizens who prioritise security and free movement, Greece is the stronger choice. For non-EU nationals who prioritise lifestyle affordability and lower living costs, Turkey is compelling.
From the brief
US$2Mnet worth that triggers the exit tax
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