Buying or selling property updates

Martin Edwards

Administrator
Staff member
#1
Obligations for those who buy or sell property
With the sales prices of the properties starting to sting, the real estate market to show after many years of life signs and property sales to record an increase of more than 20% in recent months, the independent public Revenue Authorityissued a new short utilitarian guide for prospective investors in the real estate market.
The guide is published in Greek and English in order to inform foreigners who see opportunities in Greek real estate but want to avoid trouble with the IRS.


The useful guide of the Aade – found by the citizens as soon as they visit the website www.aade.gr – informs about the tax obligations of sellers and buyers and provides solutions to the following issues:
1. Before buying a property
Whether you are a resident of Greece or a resident abroad, in order to purchase a property in Greece, you must:
  • Have or obtain a tax identification number (AFM) to obtain a tax identification number, visit the Administrative and processing support Department of a Public Financial service (tax).
  • Submit to tax a property transfer Tax statement (F.M.A.) and pay the tax resulting from this declaration. As a purchaser of property in Greece, before the contract is drafted, you must pay the property transfer tax, which is estimated at 3% of the value of the property. This declaration is signed by you and the seller and is submitted to tax, the territorial jurisdiction of which the property is located.
Learn about:
  • The VAT registration number
The VAT registration number is a 9psifios unique figure attributed by the tax administration to each operator and "identifies" it on the basis of its personal data.
  • How to pay taxes
Payment of tax is made to credit institutions or directly to tax using a card (debit or credit) or bank cheque.
  • The exemption from the FMA
You may be entitled to an exemption from the property transfer tax, for which you can be informed to the competent tax
2. After buying a property
As a property owner in Greece you have the following basic tax obligations:
  • Submit the Real Estate data declaration (E9)
This statement must be submitted within thirty (30) days from the date of drafting of the contract. The E9 statement is submitted only electronically through the relevant application E9/Enfia statement on the Aade website. For this reason, you must have or access the online services of Taxisnet.
The obligation to submit the E9 is not barred and its non-timely submission is subject to fines.

  • Pay each year the single property tax (F.I.A.)
Payment of the tax is done on a lump sum or in equal monthly instalments.
Learn about:

  • TAXISNET
The taxisnet is an electronic application of the tax administration through which you are informed and you arrange your tax obligations.
  • The F.I.A.
The F.I.A. It is an annual tax calculated on the properties you own on the 1st of January of each year, irrespective of any changes that may have occurred in these properties during the year.
3. I want to sell my property
As a property owner in Greece you have the opportunity to sell your property. In this case you have the following basic tax liabilities:
  • Take care of all your tax liabilities
In order to sell your property you must have settled all the tax liabilities (debts and filings) that derive from its possession and use and are described in the respective sections.
  • Issue a VAT certificate.
In addition, for the sale of your property it is necessary to issue a certificate en. F.I.A.
  • Submit a declaration of property data (E9)
After the sale of the property you must submit a declaration of real Estate (E9) within (30) days from the date of writing the contract of sale.
Learn about:

  • The F.I.A.
The F. I. A. It is an annual tax calculated on the properties you own on the 1st of January of each year, irrespective of any changes that may have occurred in these properties during the year.


SOURCEhttps://www.news.gr/
Local source - kefaloniapress.gr
 
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