The draft law which abolishes the Stamp Duty in more than 600 transactions and introduces a Digital Transaction Fee in the transactions where the relevant charge remains, which are explicitly defined, was put into public consultation today.
The main changes coming include the following:
- The Stamp Duty is abolished in a number of important transactions such as: utility loan, insurance transactions, establishment and capital increase of non-profit legal persons/entities, guaranteed bank credits in favor of importers, contractual interest on loans and credits.
Additionally, it is abolished in more than 100 transactions involving stamps on receipts (eg marriage license, professional licenses, etc.). It is noted that the abolition of the Stamp Duty does not entail the abolition of the tax for the transactions in question. However, it leads to a reduction in the final burden. - It is also abolished in more than 500 transactions in which a Stamp Fee of 2.4% or 3.6% was imposed on reservations concerning NPDD or the State (e.g. Stamp on Reservations in favor of the National Medicines Organization (EOF), in favor of TACHDIK ( Fund for Court Buildings), in favor of EADISY (Independent Public Procurement Authority) etc. For reasons of complete legal security, it is expressly provided that no Digital Transaction Fee is imposed on contracts, transactions and transactions that fall within the scope of the Value Added Tax Code, the Tax Code Inheritances, Donations, Parental Allowances and Winnings from Games of Chance (law 2961/2001), real estate transfer tax, capital accumulation tax, banking tax and car transfer tax.
- The new Digital Transaction Fee is introduced, which will be imposed on transactions, regardless of their place of completion, as long as at least one contracting party has a tax residence or permanent establishment in Greece and there is no reason for exemption for the contracting parties. These transactions are expressly named in the law and are not subject to other indirect taxes.
The Transaction Fee for transactions between private individuals will be verified with an electronic declaration through a new digital platform that will be put into operation by AADE. The declaration and return of the Fee is made by the end of the following month from that of the transaction.
Excluded are the cases where there is an obligation to withhold income tax (its certification and payment is based on the withholding tax deadlines), rents (its payment is made through the submission of the Income Tax Declaration) and the case of a current account (the declaration and the return is made within the first month of the following tax year).
For transactions with the State, the Transaction Fee is paid electronically before the relevant act is drawn up or issued.
The coefficients
The coefficients of the Digital Transaction Fee for transactions between individuals are clarified and defined as follows:
- 3.60% on real estate rents, on invoices for the collection of legal interest compensation and late payment interest and on transactions or contracts between natural persons who do not engage in business activity and persons who engage in business activity and are contracted for acts not related to it as well as in cases where the a contracting party is a State, Municipality, NPDD.
Regarding rents, it is clarified that: the Digital Transaction Fee is not imposed on leases that are subject to VAT. and in housing lease contracts The lessor is responsible for declaring and paying the Digital Transaction Fee. If the lessor is not obliged to submit an income tax return, then the lessee is liable for the declaration and return. - 2.40% if all the contracting parties or transactors carry out business activity, or at least one has the legal form of SA, EPE and IKE.
- 1.20% if it concerns the payment of fees to natural persons or members of management and for deposits or withdrawals from the funds of legal persons and entities.
- 0.30% on checks presented (“plates”) to credit institutions.
With other provisions of the draft law:
- The exemption from EN.F.I.A. is extended for 2024. areas in the North Aegean and Thessaly that were affected by natural disasters.
- It is extended again until December 31, 2024, in order to facilitate the inclusion in debt settlements, the suspension of the validity of the provision that provides for an appraiser’s certificate, guarantees and security in rem for the inclusion in the settlement of debts to the tax administration.
Source: ot.gr
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