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Donation Tax and Parental grant

Donation Tax and Parental grant

For donations and parental grants (i.e. transfer of assets while the transferor is alive) there is a donation tax or parental grant tax to be paid, estimated on the assessed value of the property donated.

Taxable property includes any kind of movable and immovable property located in Greece.

The tax rates are graduated and vary, depending on the relationship between donor and donee. Donation tax statements or parental grant statements are filed with the tax authorities which impose the relevant tax.

From 1 October 2021, a major tax break has been introduced by the Greek government.

Parents who wish to transfer to their children any type of asset, including real estate, cash, company stakes, will not pay transfer tax for the gifting of property worth up to 800,000 euros. The tax-free parental gift of 800,000 euros applies to each parent gifting property to each child.