The United States and Greece have entered into a social security agreement that will benefit citizens of both countries. This agreement ensures that workers who have split their careers between the two countries will not be subject to double taxation on social security benefits.
Under the agreement, individuals who have worked in both the United States and Greece will only have to pay social security taxes in the country where they are currently employed. This means that individuals who have worked in the United States and are now employed in Greece will only have to pay social security taxes in Greece. Similarly, individuals who have worked in Greece and are now employed in the United States will only have to pay social security taxes in the United States.
The agreement also ensures that individuals who have paid into both social security systems will be able to receive benefits from both systems. This means that if an individual has worked in both the United States and Greece and has paid into both social security systems, they will be able to receive benefits from both systems.
This agreement is important for individuals who have split their careers between the United States and Greece, as it ensures that they will not be subject to double taxation on social security benefits. It also ensures that individuals will be able to receive benefits from both social security systems if they have paid into both systems.
In addition, this agreement is important for businesses that operate in both the United States and Greece. It ensures that their employees will not be subject to double taxation on social security benefits and that they will be able to receive benefits from both social security systems if they have paid into both systems.
Overall, the social security agreement between the United States and Greece is a significant development that benefits individuals who have split their careers between the two countries and businesses that operate in both countries. By eliminating double taxation on social security benefits and ensuring that individuals can receive benefits from both systems if they have paid into both systems, this agreement ensures that workers and businesses can operate efficiently and effectively across borders.