Greece’s Ministry of Finance on Thursday issued two critical decisions aimed at resuscitating Greece’s slumping property market.
The two decisions – which enjoy the crucial approval of the notaries’ union – clarify the perplexing matter of taxing “incremental value” recorded in real estate transactions, a new form of tax to Greece.
The vagueness of the legal framework introducing this new tax had slowed real estate transactions – which were ailing anyway, due to the crisis – almost to a complete halt in the past few months, especially due to the refusal of notaries to process such transactions because they were not able to determine unambiguously the incremental value of real estate transactions, despite being legally accountable to collect and transfer the attributable tax to the authorities.
(source: ana-mpa)
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