Tax Deprtment

Capital Gains Tax

Imposition of capital gains tax

Exemptions
Individuals are exempt from profit acquired upon the disposal of immovable property once off in their lifetime, as follows:

€85.430, disposal of a dwelling house (under conditions)
€25.629, disposal of agricultural land by a farmer (under conditions
€17.086, disposal of other property

Non taxable disposals
The following are exempt from capital gains tax:

· transfer in contemplation of death (inheritance succession)

· gift made between spouses, parents to children and relatives within 3rd degree affinity

· gift made to a company whose all shareholders are and continue to be for at least 5 more years, members of the disponer's family

· gift made from a company whose all shareholders are members of the same family to its shareholders provided that the company acquired the property as a gift

· gift made to charity institutions, to the Republic or to a political party.

· exchange of property provided that the gain is used for the acquisition of another property and the gain is substracted from the cost of the acquired property and the tax is paid upon the sale (under conditions)

· expropriations of immovable property

· transfer in the case of a company's reorganization

· transfer of a missing person's estate

· transfer of immovable property between individuals whose marriage has been resolved by a court decision

· transfer of immovable property due to loan restructuring (under conditions)