Taxes in Europe Database v2
Emergency Law No 1521/1950, as subsequently amended (Latest amendments: Law No 2873/2000, Law No 2948/2001 , Law No 3091/2002 , Law 3220/ 2004, Law 3427/2005, Law 3522/2006, Law 3554/2007, Law 3634/2008), Law 3842/2010, Law 3943/2011, Law 4072/2012, Law 4174/2013 and Law 4223/2013 (art.11).
Real estate tax calculated on the contractual sale price is always levied on the purchaser. Successful bidders in auctions are considered to be purchasers. In case of expropriation in the public interest, the tax is payable by the person responsible for paying compensation (when other than the State).
The transfer of the title of real estate or Greek-registered ships.
The tax is assessed on the market-value or on the value determined by the “objective evaluation system” (See “Tax on inheritance”, “Basis of assessment”) or on the contract price paid by the buyer, if that is higher. If, from the terms of a subsequent contract it emerges that the price or the size of the real estate is greater than that stated in the original contract, the tax is due only on the additional cost or the value of the additional piece of the real estate. In the opposite case, if by subsequent contract it is made clear that the price or the size of the real estate purchased is less than that stated in the original contract, no tax is due. If the size of a transferred piece of real estate stated in a transfer contract is greater than that indicated in the deed of its acquisition for valuable consideration, in addition to the applicable tax on the transfer agreement, tax is payable by the vendor of the real estate on the value of the additional portion, the tax period being the year in which the transfer contract was drawn up.
Exemptions from the real estate transfer tax are granted on:
Unified rate 3% calculated upon the taxable value of the real estate.
An additional tax in favour of the municipality is also levied at a rate of 3%.
The rate is reduced:
The entire tax is paid before the draft of the final deed of purchase and after the submission of the relevant declaration.
Ministry of Finance.
The State's right to levy real estate transfer tax lapses after five years have passed from the end of the year in which the tax declaration was made. The State's right to charge the main and the additional tax, should liability arise after exemption is granted, as far as the conditions of the exemption are concerned, lapses after 15 years have passed from the end of the year in which exemption was granted, even if the case has been terminated in accordance with Article 8(2) and (3) of Emergency Law No 1521/1950 (provisional estimate). In cases of tax evasion, corrective tax assessment act can be issued within 20 years from the end of the year, during which the filing of tax declaration is due.
Where the objective evaluation system applies, the person liable to pay the real estate transfer tax must enter the “objective” value in his tax declaration, upon which the tax is calculated. If, however, the transfer deed states a higher contractual price then that serves as the tax basis. Where the objective evaluation system does not apply, the full amount of tax corresponding to the declared transfer value is payable.
In case of inaccurate declaration, a additional tax (penalty) is due (Law No 4174/2013, art. 58):