The new tax in Greece: transactions will become paid

The new tax in Greece: transactions will become paid

In January 2014 Greece is gonna introduce a tax on all real estate for homeowners. This will help the country to meet the demand of international creditors to collect taxes in the amount of €4.2 billion per year, according to ee24.com citing ekathimerini.com .

According to the new law, any contract for the sale of real estate will be considered null and void without special certificate of payment of tax that the notary is obliged to attach to each contract. Notaries who neglect this duty will be fined in the amount of €5,000.

It is interesting that the buyer may also pay the tax instead of the seller. In such a case, the deal will also be registered.

The Greek authorities are making efforts to bring the country out of the debt crisis. And the real estate market is often in sight of the legislators. So, in August 2013 it was announced that Greece introduces a new property tax and plans to raise the rates for the homeowners in 2014 once again.