On 6 December 2019, the Greek Parliament passed into law reforms of the Greek tax code.
Key elements are as follows:
Suspension, until 31 December 2022, of the Value Added Tax (VAT) at the rate of 24% on the sale of new immovable properties (i.e. having a building permit after 01 January 2006). These sales will now be subject to Transfer Tax at the rate of 3%.
Renewal of the suspension of capital gains tax on transfer of immovable properties for another 3 years.
Decrease of income tax rates for natural persons.
Provisions aiming to attract high income tax residents.
Decrease of tax rate applicable on dividends to 5% (from 10%).
Decrease of tax rate applicable on corporate income to 24% (from 29%) as of 2019, with the exception of financial institutions.