Rental Income & Taxation in Greece

2. Individuals

Rental Income & Taxation in Greece
Rental income is taxed as ordinary private or business income.

Liability to tax

Rental income received by individuals is subject to individual income tax.

Basis to tax

Income of individuals is allocated to one of the following four categories (schedules):

• Income from employment and pensions
• Business income
• Investment income
• Income from capital gains

Income from immovable property (EUR)

*If the lessor or the assignor is a natural person, 5 % shall be deducted from the above income for repair, maintenance, renovation or other fixed and operating expenses of the property.

Income from capital (dividends, interest, royalties, real estate)

When and how do you pay?

As of 1 January 2016 personal income tax returns must be filed up to 30 June of the year following the year of income. The tax year for individuals is the calendar year (ends on 31 December each year).

By exception, individuals who submit an application for the transfer of their tax residence and have timely provided the required documents (please refer to the relevant section below) should submit their personal income tax return no later than the end of the tax year following the year related to their transfer request (i.e. no later than 31 December).

As a foreign resident, you need to submit an income tax declaration in Greece only if you obtain a real income in Greece.

Payment of the tax shall be made in 3 equal bi-monthly installments, the first of which shall be paid by the last working day of July and each of the following up to the last working day of September and November.

How to appeal/complain

If you want to appeal your tax review, you have to file an appeal with the tax authority that has issued your tax review and it must contain the reasons and documents on which you base your request. You must submit the application within 30 to 60 days from receiving your tax declaration.

2. Companies

Rental Income & Taxation in Greece

Rental income is taxed as business income.

Liability to tax

Rental income earned by companies is subject to corporate income tax as business income.

Basis to tax

Business income is taxed at the rate of 24%.

Capital gains

1. Individuals

In general, capital gains realised by individuals are subject to personal income tax (see basis
of tax below).

Liability to tax

Capital gains realised by individuals are calculated as the difference between sales and purchase price and are subject to income tax at a rate of 15%.

Basis of tax

Capital gains are generally taxable at a rate of 15%. The taxation of capital gains realised on the disposal of real estate is deferred until 31 December 2022. This deferral has been enacted every year since 2013 and is expected to continue until other taxes on real estate are rationalised.

2.Companies

Capital gains realised by companies are subject to corporate income tax as business income.

Liability to tax

Business income is taxed at a rate of 24%.