Displaying items by tag: taxes

Greece must revise its budget for 2025 because there is more money available than anticipated. This is due to the increased tax revenues and the early repayment of previously taken loans ahead of schedule.

Greek citizens will be spared the hassle of visiting the Tax Office to declare amendments for property tax transfer transactions, following the launch of the online “myProperty” platform which allows taxpayers to register any changes digitally.

The relevant announcement was made by the Independent Authority for Public Revenue (IAPR) and concerns property registered in regions where the “objective asset value” is in force.

The submissions will be valid under the condition that 1. The declarations have been lodged within the designated deadline, and 2. The original declaration has been submitted via the “myProperty” platform and not in a notary’s office.

In particular, the use of the new platform covers the following transfers:

A common tax declaration for property transfer is now applicable for the transfer of real estate or the “establishment of a right in rem” (a legal action directed towards property) with an imposed cause (sale or purchase). This declaration is to be submitted jointly by the parties involved.

The provision of acquisition of the property by the transferor, through regular or extraordinary adverse possession, in a contract transferring ownership or establishing another real right on it for any reason is also recognized.

In cases where the area of the property, being transferred or encumbered, exceeds that stated in the imposed cause title deed, the difference is to be declared. This applies when the property is transferred or an encumbrance is established on it for any reason.
Additionally, the transfer of property to the contractor by the landowner, due to the execution of a construction pre-agreement or an ideal share of the land, is also covered by these tax simplifications.

The “myProperty” platform has seen a substantial rise in declarations related to parental donations, asset donations, and inheritance, according to data from the Independent Authority for Public Revenue (IAPR). Electronic submissions for tax declarations related to transfers, parental donations, asset donations, and inheritance totaled 396,755 in 2023.

The looming - according to some analysts - and even artificial - according to Stournaras - impending rise in inflation in Greece brings anxiety but also collateral... benefits. On Friday, Hellenic Statistical Authority-ELSTAT is expected to announce the detailed inflation data for the month of October 2023, where the contribution of food, which is the biggest "thorn" of the last several months, will be reflected