On 6/12/2019 the Greek Parliament voted a law reforming the Greek tax legislation. Among other things, a few of the most important amendments are the following:
– Suspension, until 31.12.2022, of the Value Added Tax (VAT) at the rate of 24% on the sale of new immovable properties (i.e. having a building permit after 01.01.2006). These sales will now be subject to Transfer Tax at the rate of 3%.
– Renewal of the suspension of capital gains tax on transfer of immovable properties for another 3 years.
– Decrease of income tax rates for natural persons.
– Provisions aiming to attract high income tax residents.
– Decrease of tax rate applicable on dividends to 5% (from 10%).
– Decrease of tax rate applicable on corporate income to 24% (from 29%) as of 2019, with the exception of financial institutions.
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