Capital appreciation on the property transfer

Capital appreciation on the property transfer

  • The Greek Ministry of Finance brought into force a new amendment and now, according to article 90 of the Law 4316/2014, the taxation of the capital appreciation on property transfer is suspended for a two-year period of time starting from 01.01.2015 to 31.12.2016.

    The new tax measure suspends certain provisions of previews law, and specifically article 41 of the Law 4172/2013 which dictates that from January 1st 2014 in cases of property transfer the vendor is obliged to pay tax, calculated at the rate of 15% on the difference between the acquisition price and the vending price of the property.

    The new measure is considered to boost the real estate market – a sector deeply affected by the financial crisis – and, thus, have a positive impact for a further economic recovery.

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