Capital gains tax

Freelance professionals and all personal enterprises in general are the biggest winners of the new tax bill. As of 2020 they will enjoy a reduction in their tax bills amounting to or in some cases even exceeding 1,300 euros each, thanks to the slashing of the basic tax rate from 22 to 9 percent.

Enterprises will pay 30 percent less tax on average based on the changes the government will bring to Parliament through the tax bill to be tabled in November.

In a bid to crack down on tax evasion to the tune of 7 billion euros a year in value-added tax alone, the government is mulling plans to encourage taxpayers to increase online and card transactions so as to increase their tax free threshold.

According to reports, the relevant legislation will be included in a tax bill that will be submitted to Parliament in mid-October.

The government's intention to legislate tax-easing measures and incentives for investments has cultivated great expectations among property market professionals.

Greek businesses will feel some of the tax burden lifted off their shoulders very soon, after Prime Minister Kyriakos Mitsotakis announced on Sunday that corporate tax will be reduced from 28 percent to 24 percent for this year and to 20 percent in 2020, but also that the dividend tax will be halved from 10 to 5 percent next year.

The capital gains tax for property ownership is apparently to be suspended for another year. Although it was voted through in 2013, it has never been properly applied due to the major decline in property prices and the complexity of the legislation.

The new objective values (property rates used for tax purposes) to be announced in mid-June will only be the starter for property owners, as it is expected that the main course will be particularly hard to digest when it comes in 2019.

Just days before it was set to expire at the end of 2017, the suspension period of the application of the provisions regarding the capital gains tax during the transfer of ownership rights of real estate was extended to end-2018.

The updated bailout agreement between Greece and the country's creditors, reached on December 2, provides for the imposition of the supplementary property tax on plots of agricultural land too, unless rates on urban properties are hiked, with the aim of reaching the target of 2.65 billion euros in revenues from property taxation after the adjustment of the so-called "objective values" used for

Tax office is calling property owners in Greece. 6.3 million owners will have to pay in total 3.153 billion euros in property tax (ENFIA 2017) for the time between September 2017 and January 2018.

The declarations for the so-called Unified Property Tax (ENFIA) were uploaded on taxisnet on Sunday evening, a week earlier than originally scheduled.