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An analysis by Zepos & Yannopoulos
On 6 December 2022, the new tax bill was ratified by the Greek Parliament. The new law incorporates, among others, the extension of specific tax suspensions that are expected to stimulate the Greek real estate market. Furthermore, the same bill gives the opportunity for corrections to the recent increases in objective values of real estate.
As such, for two more years, the sale by constructors of buildings that would normally be subject to 24% VAT will be exempt from VAT, provided that the constructor/seller opts to suspend the VAT on such sales. The exemption covers both buildings that have been completed with building permits following 1.1.2006, as well as those that will be built by the end of 2024.
Our Greek firm, Zepos & Yannopoulos, provides a detailed analysis of this new law.
Read the full article here.
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