The Ministry of Finance gives an additional one month deadline for cheap real estate transfers. More specifically, for all transactions carried out until January 31, 2022, for the purchase of real estate, parental benefit or donation, the applicable fair values will be taken into account and not the increased ones that will be implemented from January 1.
The condition is that the relevant declarations have been made for the calculation of the tax by December 31, 2021. The relevant regulation is provided in a multi-bill of the Ministry of Health
At the same time, another provision strengthens the incentives for taxpayers to collect even more electronic receipts. In particular, from 2022 to 2025, medical expenses will be doubled to cover 30% of taxpayers’ income, while expenses incurred with electronic money by certain professions will be deducted by 30% from taxable income of taxpayers.
Also, another provision extends the validity of reduced and exceeded rates of Value Added Tax (VAT) for certain items and services.
More specifically, the new regulations provide for:
1. Transfers, parental benefits and real estate donations: In definitive real estate transfer contracts with a burdensome cause or cause of donation or parental benefit, which are drawn up from 1 January 2022 until 31 January 2022, for the calculation of the relevant tax, it is considered that the transfer has taken place on 31 December 2021, provided that the relevant declarations have been submitted by that date.
2. Incentives for electronic transactions: Especially for the fiscal years 2022 to 2025, certain sub-categories of expenditure of Group 6 (Health), for which the use of electronic transactions is not widespread, are calculated at twice their value to cover the required amount of expenditure. By decision of the Minister of Finance, upon the recommendation of the Governor of AADE, the subcategories of expenditures and any other necessary details for the application of this paragraph are determined. A decision of the Governor of AADE determines the procedure for collecting the necessary data from the payment service providers. “. Especially for the fiscal years 2022 to 2025, from the taxable income of the natural person from paid work and pensions, business activity and real estate, exclusively for the calculation of the income tax, a proportion equal to thirty percent (30 %) of the costs of receiving services, for certain expenses of Groups 4 (Housing), 5 (Services), 7 (Transport), 9 (Leisure, cultural activities), 10 (Education), 12 (Services) of case d) of par. 6 made by electronic means of payment in accordance with item a) of the above paragraph. The amount of income deducted does not exceed the amount of five thousand (5,000) euros per year nor the actual income from paid work and pensions, business activity and real estate. b) By decision of the Minister of Finance, upon the recommendation of the Governor of AADE, specific costs of receiving services may be determined for which the use of electronic transactions is not widespread, to which case a) applies, as well as any other necessary detail for the application of this. “.
3. Extension of the reduction of tourist bus traffic fees for the year 2022.
4. The validity of reduced and exceeded rates of Value Added Tax (VAT) is extended for certain items and services.
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