Property Taxes in Greece
We help people with their taxes, including where they should pay taxes and how to plan for taxes, and we also give them legal advice in case they need to talk to tax officials or go to court. We help our clients with planning their taxes and work together with financial advisors on our team.
Property Taxes in Greece: Do I Need an Accountant in Greece?
The Greek Tax system seems very complicated to foreigners, so one of the most popular questions is
“Do I need an accountant in Greece?” The answer is, yes!
It is essential to hire an accountant early on to help you with tax returns and explain property taxation. It doesn’t matter if you will stay in Greece or liveaboard, you will still need an accountant.
In case you are buying a property for passive income purposes, it is also very important to have an accountant. Because any natural person or legal entity, earning income in Greece, is generally obliged to submit annual tax income statements and be taxed for such income.
In our company, we provide our customers with the opportunity to get all they need in just “one-stop” and Tax Consulting is no exception.
Our Services
- Accounting audits
- Tax filing and planning
- Management accounting
- Speciality services
- Investment planning
- Share valuation
- Taxation
How much are the fees and taxes for real estate in Greece?
- Transfer Tax (also known as Property Transfer Tax or PTT): This tax is paid by the buyer and is calculated based on the property’s value. The current rate is 3,09%.
- Notary and Lawyer Fees: The notary and lawyer fees can vary, but they typically range around 2% of the property’s value.
- Real Estate Agent Fees: usually around 2% to 3% of the property’s value.
- VAT (Value Added Tax): VAT is charged on new properties ONLY and is currently set at 24%. However, there are some exceptions and reduced rates for certain types of properties.
- Annual Property Tax: This tax is based on the property’s value and is paid annually to the tax authorities. The rate is currently set at 0.025% to 0.035% of the property’s value.
It’s important to note that these fees and taxes can change, so it’s always a good idea to consult with a lawyer or tax professional for the most up-to-date information. At InGreece Consultancy, we can help you understand the fees and taxes associated with buying property in Greece and ensure that you’re prepared for all the costs involved. Contact us today to learn more about our services.
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