Independent Authority for Public Revenues (AADE) implemented property transfers with a few clicks on the notary‘s computer, completed within a day through an online service for purchase transactions.

The new online service “myPROPERTY” is already activated for property purchases without any visit to the Tax Office or other public services, without any bureaucracy and within a single day.

The whole process is completed in six steps:

1. The notary prepares the electronic file of the transfer of the property.

2. The notary will then electronically fill in the tax on transfer (VAT) calculation sheet.

3. The declaration will be accepted by all parties (buyers, sellers) and will be submitted electronically on the AADE platform. The cross-checking and verification of the declared data will be done automatically by the system.

4. Following the verification, the resulting tax on transfer will be confirmed (if any tax exists) and the Debt ID will be issued for its payment.

5. The buyer of the property will pay the tax on transfer and the receipt will be uploaded to the system.

6. Finally the notary uploads the purchase contract to the system.

This online service for purchase transactions becomes mandatory from June 1, 2021. Greece’s step to online services is helping limit bureaucracy and waiting issues at the Tax Office.

For more information on how to buy property in Greece please contact Stathaki Law Office

Source: aade