A month earlier than originally planned, the new provisions for the Digital Transaction Fee are being implemented, which will replace the old paper stamp in more than 600 transactions.
The new law, passed by Parliament last week, states that the Digital Fee “shall be imposed on deeds, contracts and transactions drawn up or carried out from 1 December 2024. Transactions drawn up until 30 November 2024 are subject to a stamp duty and the certification can also be made after December 1, 2024, subject to the statute of limitations”.
Stamp duty is waived in a number of important transactions such as: utility loan, insurance transactions, formation 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 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 ( Court Building Financing Fund), in favor of EADISY (Independent Public Procurement Authority) Ms.
For reasons of complete legal security, it is expressly provided that no Digital Transaction Fee is imposed on contracts, transactions and operations that fall within the scope of the Value Added Tax Code, the Tax Code on Inheritances, Donations, Parental Allowances and Winnings from Games of Chance (law 2961/ 2001), the real estate transfer tax, the capital accumulation tax, the banking tax and the car transfer tax.
Where it is imposed
The new Digital Transaction Fee is imposed on the transactions expressly named in the law, 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.
Among the transactions that will be subject to the digital transaction fee are:
- Property lease contract, for the exercise of a professional activity as long as it has not been selected to be included in the VAT regime.
- Loans, interest and interest-free, in credits of all kinds, similar to loans and credit cards. The digital fee is not levied on interest
- Sale of a movable thing, as long as the transaction is not subject to VAT.
- Transfer of business
- Distribution of inheritance, bequest
- Rewards
- Bank checks
- Prizes and awards
- Issuance and renewal of permits (driving, hunting, firearms, residence and work).
The Transaction Fee for transactions between individuals will be confirmed after an electronic declaration is submitted 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.
The coefficients
There are four Digital Transaction Fee factors for transactions between individuals. They are:
- 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 residential lease agreements. 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 is for 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.
Source: ERT
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