The replacement of stamp duty by digital end tradeproposed by the Minister of National Economy and Finance Kostis Hatzidakis in the first cabinet after the European elections and the reshuffle that followed.
As OT wrote on the eve of the June 9 election, this legislative initiative is expected to be included in the famous blue cabinet files.
Almost a century
The stamp duty, which was imposed almost 100 years ago, burdens more than 500 transactions and contracts and is still a source of disputes and friction in the tax audit, it has become digital, modernized while at the same time time it is planned to eliminate it. in certain transactions.
Changing the stamp to a “digital transaction fee” is a project that participated in the Recovery Fund and was done for the first time because it was a difficult reform due to the complexity of the law, which started in 1931!
Stamp duty is imposed on various transactions and contracts such as loans, leases (except for housing), subsidies, financial assistance, distribution of inheritance, entries in books of deeds, with two main rates, 2.4% and 3.6% (the The basic rates are 2% and 3%, however, a 20% tax is imposed on the stamp in favor of the OGA).
Digital end features
According to the proposal of Kostis Hatzidakis, digital transaction fees have the following basic characteristics:
· replaces the current, old framework,
· imposed only on contracts and transactions expressly defined by law,
· its imposition on transactions subject to other indirect taxes is excluded,
· imposed on transactions, where at least one of the transacting parties is a Greek tax resident or has a permanent establishment in Greece,
· regulates many issues that the current, old framework does not clearly regulate:
– subject to tax liability
– responsible for paying taxes
– burdened with taxes
· Contains a digital payment translation process,
· eliminated many cases of stamp duty,
· Places a ceiling on the tax burden on certain categories of transaction fees.