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10.04.2017 - 23: 06

In Greece, the change procedure for taxation of income with real estate lease

In Greece, the change procedure of taxation on real estate. The rate in the calculation of the tax, which is paid 2 million people reach 37%.

The rate in the calculation of the tax on real estate long-term lease will depend on the income of the taxpayer:

- 15% with an annual income of up to 12 000 euros
- 35% with an annual income of up to 35 000 euros
- 45% with an annual income of 35 000 and higher

Property owners who receive income from short-term rent, pay taxes to 45% - depending on income.

The corresponding bill came into force in February this year 1.

New rules for registration of an object for short term rental:

- the owner of the property must be registered in the registry for rental housing at the Secretariat of State Revenue Department
- to the premises should be summed up heating, drainage, ventilation, electricity
- property to be registered in all instances
- a taxpayer can not rent no more than 2 objects
- short-term lease apartments must be offered fully furnished

For violation of the rules of the law provides for a fine of EUR 5 000.

The rate in the calculation of the tax varies according to income: 15% with an income up to 12 000 euros per year, 35% - with income from the 12 000 and higher.

A source: newsbomb

Tags: Greece, Rent, Real Estate, Economy, Reforms