VATupdate

Greece suspends VAT payments on new buildings

Greek Prime Minister has announced a three-year suspension of Value Added Tax (VAT) on new building and construction permits as well as on unsold properties built after 01/01/2006. The aim of this measure is to ease stock of unsold properties and stimulate development in Greece. The exemption will cover all real estate properties in the Greek market.

Source: karitzis.com

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