Press Release: Direct Taxation: The European Commission refers Greece to the European Court of Justice over discriminatory tax provisions for the acquisition of a first residential real estate in Greece

The European Commission decided to refer Greece to the European Court of Justice for the fiscal treatment applied to the acquisition of a first residential real estate in its territory. The Greek legislation exempts permanent residents in Greece from real estate transfer tax on the purchase of their first residential property, but does not grant the same exemption to first-time buyers who do not live permanently in Greece, but intend to do so in the future. Moreover, under certain circumstances, the Greek rules, provide for an exemption from real estate transfer tax to Greek nationals living abroad when they acquire their first residential property in Greece, while the same exemption is not offered to foreign nationals.

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