Capital gains tax in Greece

What capital gains tax applies to individuals in Greece?

Greece taxes capital gains under the Income Tax Code (Law 4172/2013, known as the ITC or KFE). The headline rate for individuals on qualifying securities gains is 15%, applied as a flat substitute tax under Article 42 of the ITC. This rate applies to gains from the disposal of non-listed shares, listed shares where the seller holds at least 0.5% of the share capital, corporate bonds and other debt instruments, and derivatives. Gains from Greek and EU/EEA collective investment undertakings (UCITS, mutual funds) are exempt. [1]

Note that a solidarity contribution (Eidiki Eisfora Allilengyis) was formerly levied on top of income tax. It was abolished for all income categories earned from 1 January 2023 onwards under Article 177 of Law 4972/2022. No solidarity surcharge currently applies to capital gains or any other income. [2]

Are gains on listed shares always taxed at 15%?

No. There is a significant exemption for small retail-investor positions. Gains from the transfer of listed shares and other listed securities are exempt from income tax when the seller holds less than 0.5% of the issuer's share capital at the time of disposal. In practice, the overwhelming majority of individual investors trading on the Athens Stock Exchange (Euronext Athens) or foreign regulated markets own well under 0.5% of any issuer and therefore realise their listed-share gains entirely free of the 15% ITC charge. [1]

The 15% rate under Article 42 is triggered only when the individual's holding in a listed company reaches or exceeds that 0.5% threshold, or when the securities involved are non-listed (private company shares, unlisted bonds, derivatives). Losses within the Article 42 capital-gains category may be carried forward for up to five years and offset against future gains in the same category; cross-category offsetting against ordinary income is not permitted. [1]

What is the status of the property capital gains tax?

Article 41 of the ITC introduced a 15% capital gains tax on the disposal of immovable property by individuals. In practice this charge has never been enforced. Implementation was suspended for individuals on 1 January 2015 following widespread practical difficulties, including the inability to establish historic acquisition values for properties inherited or purchased decades ago. The suspension has been extended by successive annual budget laws ever since.

The current legal authority for the suspension is Article 90 of Law 5162/2024, which suspends the Article 41 property CGT until 31 December 2026. Law 5246/2025 (published in the Official Gazette on 11 November 2025) then extended all suspensions that were due to expire on 31 December 2025, confirming the 2026 endpoint. [3][4]

Because the suspension has been renewed every single year since 2014, most commentators and practitioners describe the property CGT as dormant rather than merely deferred. There is limited political appetite to reimpose a tax that proved administratively unworkable. Nonetheless, the statutory charge exists and could in principle be activated after 31 December 2026 if the legislature does not extend the suspension again.

One important exception applies regardless of the suspension: if a private individual completes three or more property transactions within any two-year period, the AADE (Independent Authority for Public Revenue) may reclassify the activity as a trading business. In that case, the profits are taxed as business income at the standard progressive income-tax rates (currently peaking at 44%) rather than as exempt individual capital gains. Legal entities, including companies, are never covered by the individual suspension and pay corporate income tax (22%) on property gains in the ordinary course. [4]

How is the securities transaction duty structured?

Separate from the income-tax charge on capital gains, Greece levies a securities transaction sales duty on share disposals. Under Article 50 of Law 5073/2023 (effective 2 January 2024), the rate was reduced from 2 per thousand (0.2%) to 1 per thousand (0.1%). The duty applies to sales of shares listed on a Greek regulated market or multilateral trading facility (MTF) operating under Law 4514/2018, regardless of where the trade is executed or the seller's residency. It is collected by the depository (Euronext Securities Athens, formerly HELEX) and remitted automatically; individual sellers do not file separately for it. [5]

A previously applicable 0.2% tax on over-the-counter stock-lending transactions on Athens Stock Exchange-listed shares was abolished by Article 92 of Law 5104/2024 with effect from April 2024. [5]

How are dividends taxed?

Dividends paid by Greek and foreign companies to Greek-resident individual shareholders are subject to a 5% withholding tax under Article 36 of the ITC. For individuals, this withholding is a final tax -- the 5% exhausts the full income-tax liability on the dividend income, and no additional declaration or top-up is required. The 5% rate has been in force since 1 January 2020 and remains unchanged for the 2026 tax year. [1]

Under the EU Parent-Subsidiary Directive, dividends paid by qualifying EU subsidiaries to qualifying EU parent companies are exempt from withholding, but that is a corporate-level rule and does not affect individual shareholders.

What are the key AADE filing obligations?

Greek-resident individuals file an annual income-tax return (Entipo E1) through the AADE TAXISnet portal. Taxable capital gains on securities (Article 42 disposals) must be reported in the dedicated section of the E1 form. Where gains arise through a Greek broker, the broker typically provides a statement of taxable gains and the 15% tax may be collected at source; disposals through foreign brokers require manual self-reporting with gains converted at the Bank of Greece reference rate.

Property disposal proceeds from the sale of Greek immovable property must be declared on the E1 even during the suspension period, because certain ancillary taxes and transfer duties (notably the 3.09% Real Estate Transfer Tax payable by the buyer) are still calculated and notarised. The property CGT line itself currently produces nil liability.

For complex situations involving multiple disposals, foreign securities, or any property trading that risks business-income reclassification, consulting a qualified tax professional is strongly recommended. An overview of the Greek tax system and practitioner directory is available via the Greece country overview.

This page reflects law as in force on the date of last review and is provided for informational purposes only. Rules change and individual circumstances vary -- always verify current rules with a qualified tax professional before acting.