24/11/14

[Maik]

Transfer tax to be based on actual property cost, not objective value

The government intends to provide a boost to the local real estate market by reducing the tax on property transactions as of 2015, with the aim of attracting foreign investors by cutting the cost of taxes paid upon signing of contracts.

Sources say that the government’s plan hinges on disassociating the property transfer tax from so-called objective values, i.e. the property rates used for tax purposes. From next year the transfer tax will be based on the actual sale price of each property as detailed on the contract rather than on its estimated value.

http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_23/11/2014_544846

[Maik]

The Greek eCommerce Association GR.EC.A. organizes for the second consecutive year the eCommerce Week, under the auspices of the Development and Competitiveness ministry.

The eCommerce week will run from Monday, December 1 to Sunday, December 7. During this period, several online stores will offer great deals to consumers.

According to GR.EC.A. website, the initiative was welcomed by consumers last year. More specifically, sales in e-shops participating in the event rose by 42%, while in some cases an increase in sales larger than 100% was recorded.

http://en.protothema.gr/ecommerce-week-from-december-1-7/

[TonyD]

From next year the transfer tax will be based on the actual sale price of each property as detailed on the contract rather than on its estimated value.

Cue properties sold for €10, plus a brown envelope?

[Maik]

Yep, I thought that's why (alleged) sale prices weren't used