An end-of-the-year rush to complete real estate sales as well as parental grants and “living inheritances” is attributed to a decision last autumn by the current center-right government to allow a tax-free ceiling for such transactions of up to an objective tax value of 800,000 euros.
According to figures based on the tax bureau’s myProperty online platform, since the beginning of the year more than 212,000 electronic real estate transactions, parental grants and transfers have been submitted. Real estate transfers alone exceed 136,000.
By Greek standards, the 800,000-euro tax-free ceiling is judged as very generous, although a portion of the left-of-center political opposition criticized the measure as favoring more affluent taxpayers.
According to the Greek statistics authority (EL.STAT), parental grants and transfers in 2021 exceeded the previous year’s figure by a whopping 90.6 percent – 49,452 to 25,944 in 2020.
Other reasons given for the “boon” is that older taxpayers want to avoid paying property taxes (ENFIA) on real estate essentially designated as inheritance; to help children or other family members acquire housing and to even reduce their “taxable footprint”.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%
Store Hours Change Today in Observation of Orthodox Easter
The President of the Athens Chamber of Commerce hopes the Easter period will provide a much-needed boost to retail traffic in the capital
Athens-area Mass Transit Systems Set to Finally Install Contact-less Fare Payment
Paying fares via bank cards, smartphones and smartwatches in all mass transit systems in the Greek capital, namely, buses, trolleys, the metro and tram lines, is scheduled by the end of the year
Council of State Rejects Motion Against Thessaloniki Motorway Project
The motion was filed earlier this month by three local citizens’ and environmental groups and generated a high court decision for a temporary stay in construction
Greek 30Y Bond Issue Oversubscribed by 11 Times
Very high demand pushed down the coupon's interest rate to 4.125%
Athens Int’l Airport Wins Top Prize at Routes Europe Awards
The Routes business is focused entirely on aviation route development and the company's portfolio includes events, media and online businesses
IOBE: Income Gap Between Poor and Wealthy Greeks Widens
The findings in the analysis, entitled “Progressivity in Income Taxation in Greece, 2012-2021", paint a bleak picture for Greeks in the bottom half of the income bracket, warning that income inequality is growing
