Greece Value Added Tax 2024

• The standard V.A.T. rate in Greece is 24%.
• There is a reduced rate of 13% that applies, in the main, to food, medicines. The V.A.T. super reduced rate for hotel accommodation, books and newspapers is 6%.
• In five islands in Greece, there is a reduction on the above rate of VAT.
  In these islands the standard V.A.T. rate is 17%, the reduced rate is 9% and the super reduced rate is 4%.
• VAT is charged on assets and services provided in Greece as well as on imports into Greece.
• In many cases, exports are not subject to value added tax.
  Similarly insurance services, educational services, legal services, medical services and more are exempt from VAT.
• There is a threshold of EUR 10,000 for VAT registration.

Greece Real Estate Transfer Tax

• A real estate transfer tax is payable in Greece on the sale of real estate which is not subject to VAT.
• The rate of tax is 3%.

Greece Real Estate Tax

• Real estate owners are taxed in Greece on the real estate that they own.
  The tax is applicable to individuals and to companies.
• Real estate that is valued at less than EUR 250,000 is exempt from real estate tax.
• The rate of tax for real estate with a value in excess of the limit for exemptions, fluctuates between 0.15%-1.15%.
  A 5%-20% rate is imposed on assets with value exceeding EUR 500,000.

Greece Inheritance and Gift Tax

• Inheritances / gifts are taxable in Greece.
• The tax is payable on real estate in Greece and real estate outside Greece that is owned by a Greek resident.
• The rate of tax is between 0% - 40%.
  The amount of tax is affected by the relationship between the person making the gift / the testator, and the recipient of the gift / the heir.
• For close relatives the inheritance tax rates are 1%-10%.