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Electronics will now transferred property – What changes from May 2019

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On the Principle of authorization

In late May, possibly before the local elections will premiere the new electronic land transfer system……

According to reports, Initial contacts of competent officials of the Independent Revenue Authority with notaries were also demonstrated that the project can be started as a pilot project in May aimed at the full implementation of this October.

The process of property transfer will start and end at the notary's office. This means that the taxpayer will not need to visit the tax office after the statements will be prepared and will be submitted electronically by the notary.

After the electronic control system will carry out the, will ensure the tax is issued and the ID owed to pay the tax, which will be electronically.

The first dimension of change, It has to do with facilitating taxpayers and the simplification of procedures.

The second relates to facilitating crossings. Having the services of the Principle of authorization at the touch of a button the complete picture of real estate transfers are much easier to uncover tax evasion and possibly black money. A recent survey of the Union of Realtors Certified Surveyors Greece (PSURs) It showed that most real estate markets be purchased in cash namely eight in ten properties (84,7%) which were sold in the second half of 2018 Purchased entirely cash.

The first meetings of the Principle of authorization executives notaries were reportedly in a very good atmosphere with notaries to believe that the reform is moving in the right direction. The aim is after the pilot implementation of the measure in late May, in October the universal electronic real estate transactions involve other than transactions each transfer deed including inheritance, parental benefits and donations.

Already on statements parental benefits and monetary donations that provided electronically must be submitted by both parties.

Not enough words to indicate the wife for example that received donation 5.000 euro from his wife and vice versa wife will have to confirm that went into this gift. The tax, at the rate 10% in this case, automatically ensures the submission of the declaration.

Existing changes to Inheritance Tax Code, donations, parental Benefits, concerning the introduction of electronic submission process tax returns for monetary donations / parental benefits through the TAXISnet computer application system, and establish reporting obligations of any statement donation-parental grant tax by both parties, whether to set up this notarial deed drawn up.

By submitting declarations, It is directly clearing and in accordance with the provisions of the Tax Code Donations, taxes and parental benefits paid to Inheritance 12 monthly installments. In contrast to the real estate transactions, the transfer tax lump sum payment and the prerequisite for the completion of the transfer.

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