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Greek Capital Gains Tax on Property Sale Postponed for Two Years

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The Greek Finance Ministry announced that the introduction of a capital gains tax on property sale will be postponed for another two years, until December 31, 2016, through legislation to be tabled in Parliament on Friday.
The new law is being tabled following negotiations between Greece ‘s lenders and Deputy Finance Minister Georgios Mavraganis, as a way to boost the country’s real estate market and help the recovery of the Greek economy.
The Ministry noted that the measure is moving on the same lines as other similar measures taken by the government, such as a reduction of the real estate transfer tax from 10% to 3%.
The capital gains tax was originally scheduled to be introduced last summer.
(source: ana-mpa)

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