Law 4839/2021 (article 56), as amended by Law 4972/2022, introduced from 1 October 2021 significant tax relief for transfers of property between first-degree relatives, with a tax-free threshold of €800,000 per donor–recipient relationship.
According to article 29 of the Greek Gift Tax Code (Law 2961/2001), category A includes:
Parents to children, children to parents, grandchildren, spouses, civil partners (with a cohabitation agreement in force)
Proof of the above can be any public document showing the degree of kinship, for example a family status certificate.
The tax-free threshold covers all forms of property, both real estate and movable assets.
What applies to cash gifts?
For the tax-free threshold to apply:
The transfer must be made through a bank,
From the donor’s account to the recipient’s account, with each appearing as the first holder,
It must be supported by documents (e.g. deposit slips, transfer receipts, IBAN etc.)
The transaction must be declared through the myPROPERTY platform.
If the procedure is not followed correctly, the tax is 10%
The tax-free threshold applies per donor–recipient relationship, regardless of the number or type of gifts, provided they are made after 1/10/2021.
This article is for information purposes only and does not replace specialised professional advice.
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