New customs code in Greece brings 15 key changes to property, payments, and penalties
Greece’s new National Customs Code introduces sweeping changes across the tax and business landscape, affecting rental payments, property management, penalties for tax violations, and incentives for foreign investors.
Among the most notable reforms:
Mandatory Bank Payments for Rent: From tax year 2026, all rental payments must be made via the landlord’s declared bank account. Non-digital payments will not be tax-deductible, and tenants may lose access to state subsidies.
Digital Property Registry: A new Property Ownership and Management Registry will consolidate all real estate data under the Independent Authority for Public Revenue (AADE).
Heavy Fines for Non-Compliance with IRIS Payments: Businesses not equipped to accept IRIS instant payments via POS devices face fines of €10,000–€20,000. Partial exemptions apply for small or remote areas.
Business Tax for Short-Term Rentals: Legal entities renting properties for platforms like Airbnb will pay a new business activity fee of up to €600 per property.
Stricter Product Transport Rules: Fines for transporting goods without proper documentation will rise tenfold—up to €10,000. Real-time tracking systems will be implemented at border points.
Tougher Fuel Market Oversight: Oil companies that fail to monitor partner fuel stations face fines up to €90,000 per station—doubled for repeat offenses.
Incentives for Tax Relocation: Greece will offer tax benefits to investors and their families who relocate their tax residence, including inheritance and gift tax exemptions on foreign assets.
Hospital Expense Exemption: Employer-paid healthcare expenses for employees and their families are excluded from taxable income.
Disaster Relief: Victims of storm “Daniel” may apply to repay tax debts in 72 installments between July 28 and September 16, 2025.
Favorable Tax for Yacht Crews: Officers and crews on private yachts will be taxed at 15% and 10% respectively.
Inheritance Tax Relief for Returnees: Greeks returning after at least 5 years abroad (reduced from 10) will enjoy tax exemption on movable assets acquired before returning.
Integration of SDOE into AADE: Greece’s Financial and Economic Crime Unit (SDOE) will be absorbed by the AADE to enhance tax audits.
Transfer of OPEKEPE Duties: Agricultural subsidy oversight moves from OPEKEPE to AADE, with non-compliance penalties ranging from €10,000 to €100,000.
These measures aim to enhance transparency, improve tax compliance, and attract foreign capital while tightening penalties for illicit activity.
