According to the new Law 172(Ι0/2022 all Sellers of properties as of the 18/11/2022 are paying a special tax of 0.04% on the sale price of the property.
The tax is imposed on the sale price according to the Sales Agreement. The Seller must pay the said tax at the Tax Department before the transfer of the property onto the name of the Buyer (form N313).
Exceptions to the new tax:
- Donations
- Loan restructurings
- Company reorganizations
- Inherited property to be transferred to heirs
The contribution of 0.4% should be paid to the Tax Commissioner before the issuance to the Seller of the tax clearance.
The same tax is also imposed on the sale of shares of a company that owns immovable property.
This new law amendment aims to support the refugees of the 1974 war through the Central Agency for the Equal Distribution of Burdens.