• What is capital gains tax on property transactions?

Capital gain is defined as the positive difference between the selling price of a property and its original purchase price. The tax is levied at a rate of 15%.

• Who is liable for the tax?

Capital gains tax is paid by the seller of the property.

• Are there exemptions from the capital gains tax?

If the taxpayer has owned the property for at least five years before selling it, the capital gain is tax-free up to €25,000. Additionally, individuals who transfer real estate acquired before 1995 are exempt from capital gains tax.

However, it is important to note that taxation of capital gains income from the transfer of immovable property has been suspended until December 31, 2024, according to the Greek Income Tax Code.