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22ndannualcapital

Agricultural Land Tax

The basic tax for agricultural land has been pegged at 1.5 euros per stremma (1000 square meters) and will vary according to several factors including position, land area, use, according to the new bill being drafted by the Economy Ministry.

The tax will cover all areas outside urban limits, including plots that may be taxed five times as much if they are within 200 meters of the shoreline.

The new real estate bill will be tabled to parliament after being deliberated upon and overseen by the country's lenders (the Troika) starting next week.

The new overall real estate tax system that will come into effect in 2014 will replace the dues on assets connected to the electricity grid that is currently being collected through power company bills, as well as the tax on real estate assets known as FAP.