Greece has introduced a new tax.

27.09.2011 The introduction of new taxes helps to cope with the situation - this is the standard way-out from the existing unenviable position of any state that is going through hard times. The object of taxation at this time is real estate. The new tax will be levied in Greece in an unusual way: its amount will be included in a utility bill. The amounts will vary depending on square footage of premises and location, and range from EUR 0.50 to EUR 10 per square meter.
The introduction of the new tax was supported by deputies (154 - for, 142 - against), however as it’s seen from the ratio of votes, “for” this introduction was not numerous.

Expert’s opinion

“Real estate taxes introduction has become quite popular among European countries recently. For Greece it seems to be the only way out as the financial assistance provided by EU to the country not so long time ago did not produce the results expected by the state. The introduced real estate tax is quite high and it is not clear whether people can make such a tax burden? Won’t this lead to massive increase of poverty indicators in the country? These questions remain unanswered still”.

On the basis: www.tax-news.com

Andrianova Irina ( The lawyer of international consulting department of “Honest & Bright” )