Greece Value Added Tax 2022
- From June 1, 2016 the standard V.A.T. rate in Greece is 24%.
- There is a reduced rate of 13% that applies, in the main, to food, medicines. The V.A.T. super reduced rate for hotel accommodation, books and newspapers is 6%.
- In five islands in Greece, there is a reduction on the above rate of VAT.
In these islands the standard V.A.T. rate is 17%, the reduced rate is 9% and the super reduced rate is 4%.
- VAT is charged on assets and services provided in Greece as well as on imports into Greece.
- In many cases, exports are not subject to value added tax.
Similarly insurance services, educational services, legal services, medical services and more are exempt from VAT.
- There is a threshold of EUR 10,000 for VAT registration.
Greece Real Estate Transfer Tax
- A real estate transfer tax is payable in Greece on the sale of real estate which is not subject to VAT.
- The rate of tax is 3.09%.
Greece Real Estate Tax
- Real estate owners are taxed in Greece on the real estate that they own.
The tax is applicable to individuals and to companies.
- Real estate that is valued at less than EUR 250,000 is exempt from real estate tax.
- The rate of tax for real estate with a value in excess of the limit for exemptions, fluctuates between 0.15%-1.15%.
A 2% rate is imposed on assets with value exceeding EUR 5 million.
Greece Inheritance and Gift Tax
- Inheritances / gifts are taxable in Greece.
- The tax is payable on real estate in Greece and real estate outside Greece that is owned by a Greek resident.
- The rate of tax is between 0% - 40%.
The amount of tax is affected by the relationship between the person making the gift / the testator, and the recipient of the gift / the heir.
- For close relatives the inheritance tax rates are 1%-10%.
Note: The information in this site is for general guidance only. Users of this site are advised to take professional advice before taking practical tax decisions.
Please read our terms of service before entering this site.