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Important !
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ATS LAW
OFFICE - ATHENS - GREECE
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NEW PROPERTY TAX REGULATIONS AND LAWS in Greece
March 2008
In January 2008 the Greek Government announced the new tax laws regarding the taxation
of all properties all over Greece. The new laws apply to all the property owners wherever these owners may be,
(all around Greece and abroad), of Greek origin, or not.
The inheritance tax and the purchasing tax will be reduced or cancelled and be replaced by an annual property tax which vary from 0,1%-1% pending on the property's value.
The purchasing tax is cancelled for the non-Greek people if:
a) they do not already have a house in Greece, or abroad , b) in case they decide to live in Greece permanently and c) if they can legally prove (based on each tax office's requirements) that they are not taxed abroad, but only in Greece.
The purpose of the new tax laws have one target: to divide equally the property taxes.
Details of the new tax laws :
a) The heirs-husband, wife and children-will not pay any inheritance tax, if the inherited property is valued up to 95,000 euros.
b) The other heirs-but not the husband, wife and children-will not pay any inheritance tax, if the inherited property is valued up to 20,000 euros.
c) The property owners will pay a property tax of 0,1% of the property's value each year .
d) The new tax of 0,1% of the property's value, does not apply to those who own agricultural land, or land outside of the city borders.
e) All people who actually live in their property in Greece permanently and their home is up to 200 square meters and it cost up to 300,000 euros, they will pay the new property tax of 1% on the property's value each year .
f) All the persons Greek or not who have purchased, sold, donated their properties in Greece in 2007, MUST AGAIN FILE THE E 9 tax document.
The inheritance tax and the purchasing tax will be reduced or cancelled and be replaced by an annual property tax which vary from 0,1%-1% pending on the property's value.
The purchasing tax is cancelled for the non-Greek people if:
a) they do not already have a house in Greece, or abroad , b) in case they decide to live in Greece permanently and c) if they can legally prove (based on each tax office's requirements) that they are not taxed abroad, but only in Greece.
The purpose of the new tax laws have one target: to divide equally the property taxes.
Details of the new tax laws :
a) The heirs-husband, wife and children-will not pay any inheritance tax, if the inherited property is valued up to 95,000 euros.
b) The other heirs-but not the husband, wife and children-will not pay any inheritance tax, if the inherited property is valued up to 20,000 euros.
c) The property owners will pay a property tax of 0,1% of the property's value each year .
d) The new tax of 0,1% of the property's value, does not apply to those who own agricultural land, or land outside of the city borders.
e) All people who actually live in their property in Greece permanently and their home is up to 200 square meters and it cost up to 300,000 euros, they will pay the new property tax of 1% on the property's value each year .
f) All the persons Greek or not who have purchased, sold, donated their properties in Greece in 2007, MUST AGAIN FILE THE E 9 tax document.
New Greek Tax Regulations March 2005 Imposed
E9
Please notice that the new tax laws require that
all Greeks and foreigners living in Greece or abroad and have assets in Greece,
must file a specific tax form, E-9 document, in which all the properties
will be properly listed.
To list the properties in details as requested, we have to retrieve the deeds of our properties, along with a certificate of ownership for the mentioned properties. The deeds and the certificate of ownership will be received from various deeds bureaus in Greece.
According to the newly imposed regulation every person who inherited, bought and/or donated properties in Greece, must file the new tax returns. If we fail to follow this procedure, we will not be able to buy, sell, donate property, or inherit our Greek assets in the future.
The deadline to file the new tax forms and the E-9 tax document expires on the 30th November, 2005. The deadline applies to all the people (Greek or not), whether they reside in Greece, or abroad.
Please notice that you will not lose your property, if you will not file the E 9 tax document on time. You will only pay a fine, of approximately 50-200 euros.
To list the properties in details as requested, we have to retrieve the deeds of our properties, along with a certificate of ownership for the mentioned properties. The deeds and the certificate of ownership will be received from various deeds bureaus in Greece.
According to the newly imposed regulation every person who inherited, bought and/or donated properties in Greece, must file the new tax returns. If we fail to follow this procedure, we will not be able to buy, sell, donate property, or inherit our Greek assets in the future.
The deadline to file the new tax forms and the E-9 tax document expires on the 30th November, 2005. The deadline applies to all the people (Greek or not), whether they reside in Greece, or abroad.
Please notice that you will not lose your property, if you will not file the E 9 tax document on time. You will only pay a fine, of approximately 50-200 euros.
