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Property Tax

Ε. 1 TAXATION PROPERTY MARKET

The sale of a new property by an economic operator subject to VAT 24% of the sale price. Newly designated each property to be transferred before the first use. In the event that the property is not new or in any case the seller is not economically active, the buyer bears Estate Transfer Tax 3.09% of the greater of the objective value of the purchase contract value.

Ε. 2 SINGLE PROPERTY TAX (SPT)

The owner of any property in Greece, subject to the Uniform Real Property Tax, which is the sum of a main and a supplementary tax.

Ε.2.1 MAIN SINGLE PROPERTY TAX

The main tax for residential combined calculated by:

  1. the main tax (euro / sq. Meter), which varies depending on the price band
  2. Factor Building age
  3. Factor Impairment building Surface, which applies to special buildings
  4. Factor floor
  5. the house rate
  6. the facade rate
  7. the auxiliary rooms and rates
  8. the unfinished buildings coefficient

For land within the city plan, the tax calculation takes into account the unit value of the land per square and the tax zone.

For plots outside city limits in order to calculate the tax, apply the Basic Tax Rate in combination with Position Partners, Use, Irrigation, Housing and Expropriation.

 

 

Ε.2.2 SUPPLEMENTARY PROPERTY TAX

If a person holds an objective property worth more than € 200,000, the excess amount is subject to an additional tax. The calculation is made according to the following table:

Capability (EUR) Coefficient % Bracket Tax (EUR) Aggregation
Property Value Atx
(euro) (euro)
200.000,00 0,00% 0 200.000,00 0
50.000,00 0,10% 50 250.000,00 50
50.000,00 0,15% 75 300.000,00 125
100.000,00 0,30% 300 400.000,00 425
100.000,00 0,50% 500 500.000,00 925
100.000,00 0,60% 600 600.000,00 1.525,00
100.000,00 0,80% 800 700.000,00 2.325,00
100.000,00 0,90% 900 800.000,00 3.225,00
100.000,00 1,00% 1.000,00 900.000,00 4.225,00
100.000,00 1,05% 1.050,00 1.000.000,00 5.275,00
1.000.000,00 1,10% 11.000,00 2.000.000,00 16.275,00
Excess 1,15%

Ε.2.3 SUPPLEMENTARY TAX PROPERTY LEGAL ENTITIES

The Legal entities subject (other than above) and of 0.55% supplementary taxwhile for real estate used for producing or doing business, the figure rises to 0.1%.

 

Ε.2.4 OTHER CHARGES OF BUIDINGS

In addition to the Property Tax, there are other charges for the possession of land, such as council tax and Tax Property, calculated at the rates of 0.25 to 0.35 per thousand for the product of the surface , the age and the price zone.

Still, legal entities own immovable property in Greece, you may (under certain conditions) to be saddled with the Special Tax Property (S.T.P.), calculated with the rate of 15% on the objective value of the property.

Ε. 3 EXPLOITATION PROPERTY TAX

Rents are taxed at the following scale:

Income Rent Tax Rate
0,01 – 12.000,00 22%
12.000,01 – 35.000,00 35%
35.000,01 and above 45%

The lessor (if limited company) pays stamp duty of 3.6% on the rent income in the income statement at the end of the year.

 

Ε. 4 TAXATION OF GOODWILL SALE PROPERTY

If individual sell property in 2016, is not subject to any capital gains. From 01/01/2017, any transfer is made shall be charged with capital gains tax of 15%. Goodwill is calculated if by the sales value deduct the market value of the transferred property.

In the case the legal entity transfers property, income, added to profits of business and taxed at 29%.

Corporate and individual tax guides