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Finance ministry: Tax exemptions on corporate property cost state 3.5 bln€ annually

By G. Palaitsakis
[email protected]

The Greek state loses roughly 3.5 billion euros in revenue, annually, from exemptions to a special 15-percent tax, dating to 2002, imposed on real estate in the country.

Tax exemptions over the past 15 years benefit 6,770 companies and various legal entities and with major real estate holdings in the country, according to a report submitted to Parliament by the finance ministry this week. The report accompanies the draft 2018 budget that was tabled in Parliament last week.

The 326-page report details all of the exemptions in effect until at least Sept. 30, 2017 in Greece’s tax codes.