Special tax on real estate property (15%)

In order to combat tax evasion through the use of offshore entities the Greek legislator, by virtue of law 3091/2002 introduced an annual tax on the value of real estate, initially @3% and recently, by virtue of law 3943/2011 @15%. The tax is imposed on the value of real estate situated in Greece and which are held by the taxpayer on the 1st of January of each year. The law provides for such a wide range of exceptions, that the payment of tax may be seen as the exception rather than the rule. The exceptions may be classified as i) “objective” exemptions...

05 Dec 2011

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Tax on inheritance-gifts inter vivos

Posted by ΧΡΙΣΤΙΝΑ ΣΑΚΕΛΛΙΑ

in Tax Law, Special topics

According to article 1 of Law 2961/2001 (The Code on taxation of inheritance, gifts inter vivos and lottery gains), tax is imposed to any asset acquired by inheritance, gift inter vivos and winnings in lotteries, whether acquired by an individual or a corporate entity. 1) Inheritance tax In article 3 of the Code, the legislator provides for a list of assets that are subject to inheritance tax. These are: 1) property of any kind situated in Greece which belongs to Greek citizens or foreigners. 2) moveable property situated abroad which belongs to a Greek resident or (under conditions) to a foreigner residing in Greece. Liable...

Tax Law

Special tax on real estate property (15%)

Tax on inheritance-gifts inter vivos

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