Greece to Offer Tax Incentives For EU-Pensioners Buying Summer Houses

Posted by in Economy

After the trade-visa-for-property proposal to non-EU citizens, Greece is considering to expand its attractive offers and lure EU citizens to invest in Greece. This time, Athens targets citizens of European Union member-countries and thus aged over 60 or 65 years old.

According to in.gr, the Finance Ministry considers to offer to these EU ‘investors’ tax incentives, if they buy a summer house in Greece.

These pensioners will not have their retirement income taxed in Greece, even if they stay in Greece longer than 183 days (it looks as if EU pensioners staying longer than 183 days have their pension taxed here.)

However, they will not be eligible to work in Greece.

At this stage, the ministry considers to apply this lucrative measure fro pensioners over 60 or 65 years old.

The plan will be discussed tomorrow, Friday, among members of the relevant committee in charge of the changes in the tax system.

So probably there will be more details tomorrow.

Here I have to note:

1) This is a 100% discrimination against Greek pensioners. What tax incentives do they get?

2) This is 100% discrimination against EU pensioners, who have already purchased summer house here.

3) EU pensioners with 60? Didn’t the Troika with Christine Lagarde on the lead claiming that only Greeks would retire quite early when compared to other EU citizens?

Do not get me wrong. But will we have here EU citizens living here, being taxed there (possible with lower tax rates) while the rest of us will give the state more than 45% of our incomes?

Where is the famous EU Commission, the EU Parliament and all the other EU bodies promoting Eguality Rights to EU citizens? Where is the EU to  protect Greeks from being discriminated against other EU citizens and thus by their own state?

PS I think this 183-days (6 months) limit answers also the question posed to me by some EU expats who were asked in 2012 to tax their retirement money in Greece. Bingo! Hopefully they have solved these issues.