Greece - Other taxes and levies

Other taxes and levies

Taxation of international executives

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Social security tax

Are there social security/social insurance taxes in Greece? If so, what are the rates for employers and employees?

Employer and employee

Type of insurance Paid by employer Paid by employee Total
Social insurance 24.56% 15.50% 40.06%
Total 24.56% 15.50% 40.06%

At present, Greece does not, have a uniform social security system. Instead there are several social insurance funds covering various sector of the population. Employed persons people are required to contribute to the Social Insurance Fund (IKA) and the Employee’s Supplementary Insurance Fund (TEAM) unless by reason of their status (trade or profession) they should contribute to a different fund. The social contribution rates are 15.50% percent for the employee and 24.56% percent for the employer up to a maximum monthly salary of EUR 5.543,55.

In certain circumstances, EU and non-EU employees may be exempt from registering with the Greek social system.

Gift, wealth, estate, and/or inheritance tax

Are there any gift, wealth, estate, and/or inheritance taxes in Greece?

Inheritance and gift tax is based on the value transferred through inheritance or gift (donation). The tax is based on a graduated scale of rates, which increases with the value of the property transferred (inherited or gifted). The rates also vary depending on the degree of relationship between the deceased or donor and the recipient of the property. The tax applies to all property located in Greece as well as movable property located abroad owned by Greek citizens or foreign nationals domiciled in Greece (except for those residing abroad for more than 10 years).

The recipient of an inheritance or donation is obliged to file a tax return generally within six months from the death of the inherited individual or publication of a testament or receipt of a donation. Under certain circumstances where a donation is effected, both the recipient (donee) and the donor must file a joint tax return.

Exemptions from inheritance and donation tax may apply under circumstances for social (e.g. tax exemption for the husband/wife and the juveniles of the inherited) of for economic reasons (such as tax exemption of joint accounts). 

Real estate tax

Are there real estate taxes in Greece?

A Unified Real Estate Ownership Tax (UREOT) is imposed on individuals and legal entities irrespective of their citizenship as follows. 

UREOT consists of a main tax and a supplementary tax. The main tax on buildings ranges from EUR 2 to EUR 13 per square meter, depending on their location/tax zone, multiplied by certain coefficients that vary depending on elements characterizing each property, such as its surface, building’s age, etc.

The main tax for plots of land located within city limits or zoned areas ranges from EUR 0.003 to EUR 9 per square meter, depending on their location/tax zone.The main tax for plots of land located outside city limits or zoned areas is EUR 0.001 per square meter, multiplied by certain coefficients that vary depending on their use, whether they are irrigated, etc.; the resulting main tax is increased fivefold, if a residence is built on such a plot of land.

The supplementary tax is imposed on all real estate owned by legal entities at the rate of 5‰, calculated on values resembling the objective tax value.  

The supplementary tax is imposed on individuals owning real estate exceeding EUR 300 000 in total (calculated on values resembling the objective tax value) and is calculated at rates ranging from 0.1% up to 1% on such values.  

Legal entities (whether Greek or foreign) holding Greek real estate as at 1 January of each year can also be subject to a Special Real Estate Tax (SRET), which is calculated annually at the rate of 15% on the property’s objective tax value.  Several exemptions from the above 15% SRET are available under conditions, which conditions should be fulfilled as at 1 January of each year on the basis of specific documentation.  

23% VAT is imposed on the transfer of new buildings whose construction license was issued or renewed as from 1 January 2006 (provided that construction works have not commenced up to the date of the license’s renewal). Following this first transfer, every subsequent transfer will be subject to 3.09% real estate transfer tax.

Sales/VAT tax

Are there sales and/or value-added taxes in Greece?

A value-added tax (VAT) at the rate of 23 percent applies in Greece.

Unemployment tax

Are there unemployment taxes in Greece?


Other taxes

Are there additional taxes in Greece that may be relevant to the general assignee? For example, customs tax, excise tax, stamp tax, and so on.

Local taxes

There are no churches or local taxes imposed on the income of individuals.

Transfer taxes

Real estate transfer tax is levied on the title transfer of real estate. The tax is computed on the difference between the sale price and the purchase price.

Capital gains arising from the transfer of real estate is taxable at the rate of 15% as of 1 January 2017 and on the condition that it is not considered business profit.

© 2017 KPMG Advisors AE, a Greece Corporation and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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