vlaxos Following the submission of a number of questions concerning the exemption from VAT of short-term lettings of Real Estate in the context of the sharing of Article 111 of Law 4446/2016, as replaced by Article 84 of Law 4772/2017, with POL .1059/2018, the following clarifications are provided for the purposes of uniform application: 1. As … Read more
Questions about the speed of recovery in the housing market are currently raised by two key parameters, the stock of unsold real estate and the imminent intensification of auctions, executed exclusively in electronic form. According to a relevant analysis, the existing stock of unsold real estate now exceeds 250,000. At the same time, it is … Read more
More than 3 million taxpayers will be taxed from 15% to 45% this year on real estate revenues earned in 2017. In addition, these incomes will also be taxed with a special solidarity tax of 2.2% to 10%, provided that their total income for 2017 is over € 12,000. According to the current legislation, real … Read more
37 properties were included in the auction process by the General Secretariat of Public Revenues. The owners of these properties owe large amount of money to the Greek state due to previous taxes or fines. These properties are available on the website General Secretariat of Public Revenues of Ministry of Finance. The following properties are … Read more
The Greek economy is still quite unstable, according to “Task Force for the Greek economy” statement. It is noted that “Task Force” consists of representatives of Hellenic Confederation of Freelancers, Craftsmen and Merchants, National Confederation of Hellenic Commerce, Association of Greek Tourism Enterprises and Union of Hellenic Chambers. Main target of “Task Force” is to … Read more
After the clearance of the new property tax (ENFIA), the Ministry of Finance released interesting information regarding the property status of Greeks citizens. More analytically: • 5,569,336 landlords own property of total objective value €520.49 billion. • Each one of 4,123,258 landlords owns properties of objective value lower than 100,000€. • 291,322 landlords should pay … Read more
Many funds and strong “players” in global real estate and tourism markets expecting new investments in Greece, given that most of the foreign investors gain confidence on Greek economy and its growth prospects. A large number of company reports describe a really attractive investment environment in Greece anticipating that there are discussions for important deals … Read more
A number of significant changes regarding VAT took place in 2014, with the abolition of the annual VAT clearance return and the new simplified VAT form (effective from 01/01/2015) being the most important. TaxExperts’ VAT Compliance Team has drafted a special report with the most recent modifications. Changes under the L. 4182/2014 The article 38 … Read more
Late on August, the Ministry of Finance released the changes in the procedures and the calculation of the Single Property Tax (ENFIA). More Specifically, the Minister of Finance mentioned that the establishment of a full database which includes analytically the property status of taxpayers and which embodies immediately all the property transfers and changes, is … Read more
Commercial leases, as leases in general, have experienced a large decline during the recession period. This is due to the reduced demand of commercial spaces and limited flexibility when entering into agreements. The new framework, introduced by the Ministry of Development amending the Presidential Decree no 134/1995, provides that the minimum period for new … Read more