Property Tax

The story A foreign tax resident from Israel, with a tax representative in Greece, was charged income tax and a fine, after the tax audit authorities found out that the foreign taxpayer had profits from business activity, which relate to the sale of real estate, but without declaring his commencing of business activity. The taxpayer filed an appeal, requesting the annulment of the act of determining...

Today's market conditions are completely different from those that followed the financial crisis and led to the collapse of the real estate market, emphasised the president of the Athens-Attica Real Estate Agents’ Association, Lefteris Potamianos, while speaking at the 3rd Greek-Serbian Forum, held in Thessaloniki. "Today most of the transactions – at least this my feeling and of my colleagues’ from...

Zone rates are implemented in 2,167 areas by the government's economic staff, effectively completing the first major part of the new property tax reforms. After the inclusion of the above areas in the system of objective value determination of of real estate, almost 100% of the Greek territory will have zone prices which will even match the commercial value prices. The second part of the reform concerns...

Real estate professionals request government intervention for the restoration of overpricing phenomena, which in many cases create a distortion in property values ​​and hinder the attraction of foreign real capital in the Greek real estate market with regard to the Golden Visa program. The president of E-Real Estates, Themistoklis Bakas, describes the golden tricks, which have been devised in recent...

Red tape and the dozens of certificates required for transfers make it difficult to buy and sell real estate in Greece. The government is moving forward with decisions aimed at facilitating transfers, such as electronic inheritance tax returns, and digitising the issuance of tax information and debt certificates. Electronic submission of inheritance declarations and informal donations: No more visits...

Capital taxation has been constantly changing in recent years. This is a result of the high taxes that were instituted following the pressures of the 'troika' to increase revenues and meet fiscal targets. From 2019 onwards, the reverse process began, when the government suspended VAT on constructions, while it offered incentives for repairs, ensuring, as long as owners paid for the work electronically, a...

The pilot operation of the system of bulk real estate valuations (CAMA) has started. The electronic system is currently being tested by the services of the Ministry of Finance, a process which, as everything shows, will last several months, until at least the country's political leadership is convinced that the new system's results are correct and unquestionable. In the first phase, the system collects...