In record time through the myPROPERTY platform, most tax declarations for those inheriting real estate or other assets are now submitted, freeing citizens from time-consuming procedures at tax offices. With a new comprehensive guide of questions and answers, the Greek Tax Authority aims to clarify all aspects surrounding digital inheritance tax declarations.
Digital inheritance declaration: No more hassle at tax offices – Guide in 8+1 steps
1. Which declaration cases are submitted through the inheritance tax declaration?
Through the inheritance tax declaration, declarations are submitted with heirs who are natural or legal persons or legal entities, for deaths from 01/01/2022 onwards, and more specifically:
- initial and amendment declarations of inheritance tax (on time and late) by the obligated declarant heir or legal representative of a legal entity, provided no notarial document of acceptance is drafted, for movable assets using their personal myAADE access codes.
- initial and amendment declarations of inheritance tax (on time and late) for which a notarial acceptance document is drafted, completed by the certified notary who will prepare the notarial act of acceptance for movable assets and real estate within the objective system and submitted by the obligated declarant or their legal representative using their personal myAADE access codes.
An essential prerequisite is that no other declaration has been previously submitted in paper form to the tax office/KEFOK or through the inheritance tax declaration application via tax office.
2. An heir has already submitted an inheritance tax declaration for movable assets and discovers an error. What should they do?
The heir must make an amendment declaration through the application, in which they will correct the movable asset, leaving all other movable assets unchanged, and then finalize it.
3. An inheritance tax declaration has been submitted by the notary for real estate and the heir discovers that a movable asset has not been included. What should the heir do?
In this case, the heir must submit an amendment declaration themselves. This declaration is registered as an amendment to the declaration that the notary has submitted on their behalf. This new declaration includes the real estate already declared by the notary and the heir can add movable assets, but cannot modify anything concerning real estate. Real estate can only be modified by the notary.
4. Where and how are amendment inheritance tax declarations submitted?
When the initial inheritance tax declaration has been submitted manually to the tax office/KEFOK, then amendment declarations are submitted through inheritance tax declaration via tax office.
When the initial inheritance tax declaration has been submitted through the myPROPERTY application, then amendment declarations are also submitted through the myPROPERTY application. If for any reason an amendment declaration cannot be submitted through the myPROPERTY application – inheritance tax declaration, then it is submitted via inheritance tax declaration through tax office and all subsequent amendment declarations are submitted through inheritance tax declaration via tax office.
5. What tax will be assessed upon submission of the amendment declaration?
The tax of the amendment declaration, shown in the tax calculation table, is the tax resulting from the final (total) picture of real estate and movables inherited, and upon declaration submission any tax will be assessed after accounting for the tax assessed in the initial declaration. Therefore:
- If the amendment declaration tax is higher than the initial declaration tax, the additional tax (the difference) will be assessed.
- If the amendment declaration tax is lower than the initial declaration tax, a tax credit (deletion/refund) will be created for the tax difference.
- If the amendment declaration tax equals the initial declaration tax, no new tax is assessed, nor is a tax credit created.
6. How does the heir know they must pay inheritance tax?
They will receive a relevant message in personalized information (on the my AADE platform), stating which submitted inheritance tax declaration the tax relates to, the amount, and the payment deadline date.
7. Who pays the inheritance tax?
The inheritance tax burden falls on the heir.
8. In how many installments is inheritance tax paid?
Inheritance tax, after submitting an initial on-time or late declaration, as well as an on-time amendment declaration, is paid in up to 12 equal bi-monthly installments or up to 24 for minor obligated parties, each of which cannot be less than 500 euros (except the last), with the first paid by the last working day of the month following the assessment/issuance of the act and subsequent ones by the last working day of the following two-month periods. If the obligated party pays the total tax within the first bi-monthly installment payment deadline, they are entitled to a 5% discount. If the resulting tax is less than 500 euros, the amount is paid in a lump sum without discount. If the declaration concerns only movables and tax payment is not secured, the tax is assessed and paid in a lump sum within 3 days of assessment.
9. What charges apply for late tax payment?
If any tax amount is not paid within the legal payment deadline, the taxpayer is obligated to pay interest on that tax amount for the period from the day after the legal deadline expires.
