BUSINESS

Ministerial decision expected on possibility of ceding property instead of paying inheritance tax

TAGS: Economy, Taxation

A ministerial decision allowing citizens unable to accept an inheritance for tax reasons to cede property instead of paying inheritance taxes was expected to be announced in the near future, the ANA-MPA news agency reported on Thursday.

According to the news agency, the matter was raised in Parliament by Alternate Finance Minister Tryfon Alexiadis following a question tabled by Independent Greek MP Dimitris Kammenos.

While the legal framework existed since 2014, the ministerial decision had not been issued because of the country’s fiscal commitments.

Recent data has shown that an increasing number of Greeks were refusing inheritances due to an increase in tax arrears and higher property taxes.

The measure was expected to apply in certain cases, Alexiadis added.

 

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