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Hot Topic (More than 5 Replies) Cost of Selling? (Read 2198 times)
Titch
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Re: Cost of Selling?
Reply #5 - 06. Jun 2013 at 21:14
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Jon I like your way of thinking.... Cheesy
oooops did I say that out loud lol

  
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latsida
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Re: Cost of Selling?
Reply #4 - 05. Jun 2013 at 20:12
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« Last Edit: 05. Jun 2013 at 20:13 by latsida »  
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Topdriller
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Re: Cost of Selling?
Reply #3 - 05. Jun 2013 at 19:59
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So, if you sell your house for 250,000 and its a non Greek purchaser then presumably the buyer pays 125,000 into your UK account and 125,000 into your Greek account so you pay the capital gains tax on half the amount?

I'm not suggesting this of course, but we all know its going to happen if CGT is 20%.  Smiley

Jon
  

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Titch
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Re: Cost of Selling?
Reply #2 - 05. Jun 2013 at 15:40
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lol thanks for the info Herby.....you sure we don't get a refund? Smiley
  
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Herby
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Re: Cost of Selling?
Reply #1 - 05. Jun 2013 at 15:03
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For properties purchased, donated etc. after the 1st January 2013 the new Capital gains tax 20% will effect a sale of this property in the future. This Capital gains tax will have to be fully paid before the execution of the transfer of the property, will be imposed on the difference between the acquisition cost (price that is written on the purchase notary contract) of the real estate property to be transferred and its sales price. This difference is inversely proportionate to the time of ownership of the real estate to be transferred, according the follow table reducing the difference:
Years property remained at the ownership of the seller

Reduction factor

(inflation adjustment) of the capital gains

1-5 years 0.90

5-10 years 0.80

10-15 years 0.75

15-20 years 0.70

20-25 years 0.65

Over 25 years 0.60

Obviously this tax only applies if you sell at a profit! (and no, you don't get a refund if you sell at a loss)


http://www.cretanaccountant.gr/tax-liabilities-in-greece-for-non-greek-citizens/
« Last Edit: 05. Jun 2013 at 15:06 by Herby »  

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Titch
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Cost of Selling?
04. Jun 2013 at 21:07
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Hi all.
Any ideas how much (roughly) one is expected to pay when you sell a property before 5 years ownership is up?
Cheers
Carol
  
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