Greek tax system

The Greek tax system includes various taxes that may be applicable to real estate. Some of them are

1. Greek Property tax (ENFIA): This is an annual property tax levied on property owners in Greece. The amount of the tax depends on factors such as the size of the property, its location and its market value.

2. Rental Income Tax: If you rent out your property, you must pay tax on the income you receive from it. The tax rate depends on the amount of rent and other factors.

3. Property sale tax: If you sell a property in Greece, you may have to pay tax on the profit from the sale. The rate depends on the difference between the purchase price and the selling price. However, there are nuances and the tax is not always paid.

4. Inheritance and gift tax: The transfer of property as an inheritance or gift may give rise to tax liabilities. The tax rate depends on the value of the property transferred and the degree of kinship between the parties.

5. VAT on new property: If you buy a new property in Greece (from a developer or under construction), you must pay VAT on the value of the property. The VAT rate is 24%.

6. The tax on the purchase of a property is now 3.09% of the contract value. It is important to take these taxes into account when planning a budget for the purchase or ownership of property in Greece. It is advisable to consult professionals such as tax consultants or lawyers to obtain detailed information on tax obligations and possible benefits.