Greece V.A.T. and Other Taxes

Greece Value Added Tax 2024

  • 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%.

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 5%-20% rate is imposed on assets with value exceeding EUR 500,000.

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%.

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