Inheritance Tax

In Greece, heirs are divided into 3 categories; the main category includes the spouse, the children, the grandchildren and the parents.

Inheritance tax has 3 scales and is calculated on the basis of the property tax value (not its market value). Property with tax value under €150,000 is tax free. If it exceeds €150,000, it is taxed by 1%, and if it exceeds €300,000, by 5%. A tax of 10% applies if said value exceeds €600,000.

Example: Inherited property with a tax value of €800.000 is taxed as follows: 1,500 +15,000+ 20,000 = €36,500. Given example concerns the main category of heirs only.