I know this has come up before but maybe the legislation has changed in the meantime. What is the difference between annual tax declaration and property tax? When are these due? Should one be paying both? I not work on the island.
Should I be depositing funds into a bank account for one or both of these.
Any help would be most welcome as I am hopelessly confused.
Message posted by GUV1 on 23 February 2011 at 7:09pm - IP Logged
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If you have a property you should submit an annual tax return on which property tax will be included. Your accountant should be doing for you next month. Late submission is a fine - double the return!
Message posted by jrk on 23 February 2011 at 8:43pm - IP Logged
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I do not have an accountant. The lawyer said that it would be organised by them as part of the original fee. I was concerned since the lawyer was never very communicative and English not that good. Also reading posts on this forum made be uneasy somehow. However the estate agent was sure that it would be all taken care of and this relaxed me. So, I sort of let it drift.
With this year's tax returns coming up, I started to think about it again. But I still cannot seem to obtain a reply by e-mail from the lawyer (it is the correct e-mail address, by the way). And I not have been much money in the Greek bank account and I seem to remember that you are required to transfer a certain amount money from the UK to Greece every year. If that is so, I need to do that very soon presumable. But I know not how much should be transfered. And how do you obtain the pink slips from the Greek bank for the tax people when one is in the UK. Can an accountant access clients accounts. I guess the lawyer has all the paperwork from last year.
Message posted by Lavinia on 24 February 2011 at 12:13am - IP Logged
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My accountant told me last year that "pink slips" were of no use and asked for a dilosi (statement) from my bank showing how much money I had imported from abroad. This was provided free and within two days by my bank (FBB). I thought the tax returns had to be in by the end of June, but I may well be wrong.
Message posted by Linda2 on 24 February 2011 at 2:00am - IP Logged
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Pink slips are of no use if you are resident. The tax form you will be submitting is for 01.01.10 to 31.12.10 so you cannot impact on that now. I would recommend you get someone from this board to recommend you an accountant you can access from the UK - they are not expensive - maybe charge you 50E for a basic return. I do not know the actual deadline - our accountant has our stuff in March, but the deadline may well be May plus.
Message posted by Polly-anna on 24 February 2011 at 8:50am - IP Logged
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Not true pink slips are important. But you'll need them for 2010 any you get now will be for next years tax return. Sidari has a good accountant Yannis Mouzakitis tel 2663099015. Speaks English and is used to dealing with non Greeks.
Message posted by corfuwolves on 24 February 2011 at 2:14pm - IP Logged
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We are in Corfu now to sort out our annual tax return. If you have a joint bank account (as we do) make sure that the pink slips have both names on them- we have just had to get ours re-issued by our bank (Alpha bank) because only in one name! Also the money transfer dates must be specific, again ours only said 2010 so had to be changed to the specific dates.
Message posted by jrk on 24 February 2011 at 4:35pm - IP Logged
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I gather that anyone with a pool of what ever size, has to transfer 12000 euros per year to Greece. If it is only a holiday place, what is the point even if you can afford it?
What happens if you cannot transfer 12000 euros?
Message posted by Elliemay on 24 February 2011 at 4:43pm - IP Logged
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Hi jrk,
I really think you need to get an accountant.
One that many people I know use is in Acharavi above Freddos and they do speak English.
Didn't you ask this same question last year?
Message posted by Bill on 24 February 2011 at 4:49pm - IP Logged
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Oh dear! I know that the forum is intended to provide information and encourage healthy debate, but there is a huge amount of conflicting information on this particular thread.
The situation regarding property tax, and any other taxes that may or may not be due in Greece, does depend on many things including whether or not you're resident in Greece, where your income originates, the size of your property, whether your property is your only residence, etc ad nauseum.
Matters are more complicated by a frequently changed and updated tax system that means that what may be correct one week may not be extant a few days later. Even the tax professionals are having a job keeping up with it, so what chance do the rest of us have.
Might I suggest jrk that you find an accountant here and get your tax returns completed by him/her. It may well be that your lawyer promised to organise one for you as a part of the service, but it might end up costing you a lot more if you don't have your returns done at the right time. There are a plethora of accountants on Corfu, it costs nothing to request their services, and their fee for the completion of a standard tax return is not normally particularly expensive.
I'm a great believer in using forums such as this as a source of information, but for matters legal and financial it's always best to get professional assistance.
Message posted by jrk on 24 February 2011 at 6:29pm - IP Logged
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Yes you are quite correct Elliemay and I went to one located above Freddos and the lady were very helpful. But a day or so later my Estate agent reassured me that my lawyer would sort it out and I left in there. I reckon that I made a mistake
But I agree I need an accountant now. Someone suggested one that I contacted and the standard charge is 175 euros +vat (225 euros + vat, for the first time). Does this sound much the norm?
Message posted by MartynG on 24 February 2011 at 6:40pm - IP Logged
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JRK - we had exactly the same assurances when we bought our property in 2004. Unfortunately (as I suspected) they proved to be worthless. Get yourself a local accountant who is geared up for compiling/submitting tax returns.
Sorry, can't comment on the price quote as I cannot recall what we pay, but it isn't very much (but then, our tax bill is quite small too!).
Martyn
Message posted by Elliemay on 24 February 2011 at 6:43pm - IP Logged
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Not sure jrk, as we paid 110 euros for the first one but that was about three years ago.
I think we only paid about 60-70 euros for the following ones.
Message posted by jrk on 24 February 2011 at 7:39pm - IP Logged
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Thanks for the comment, MartynG. I was interesting to hear that I am not the only owner to have experienced this rather awkward situation. And it is more difficult not being there on the Island. I shall bury my worries in a glass of wine (or two) at Prince William's bash tomorrow.
Message posted by thecorfiot on 25 February 2011 at 10:08am - IP Logged
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I have deliberately held back on this thread as it is another of those that appear with boring regularity along with importation of motor vehicles. However, Recent events have made me rethink!
Firstly, I should point out that we are permanent residents in Greece. It makes a difference. As a retired police officer, the UK tax authority tell me that I fall within the category of a 'Crown Servant' and as such am not allowed under UK tax law to pay my income tax anywhere other than the UK.
One would think that with the double taxation agreement and the fact that I do not have employment in Greece, that would be the end of the matter. Not so!
There was information provided by the Athens News in response to a letter in their edition of 28th January 2011 that goes some way to providing some but not all of the answers. It is available online here
We have used the accountants above Freddos in Acharavi for about 9 years. Every year, I have a battle with them when they tell me that I need yet another piece of paper. I have never given in and every year my tax return has been submitted with pink slips without a problem.
This year I was yet again asked for a plethora of additional paperwork. The alternative was to lie and say that I wasn't resident and then I had to get a Greek national to act on my behalf and submit my return.
After pointing out that they appeared to have forgotten that they worked for me, not the other way round, I left very er ... irritated. I shall be changing accountants.
I have just written to Kathy Tzilivakis, the Athens News Journalist referring her to this thread and suggesting that as an investigative journalist, she could do the ex pat community a great service by getting to the bottom of what the Greek tax authority expect of us, quoting the relevant law. After all, we just want to live our lives in peace without breaking laws unintentionally ... don't we?
Finally ....
JRK. Tax returns are due from March for the previous 12 months ending December 31st. The exact date depends upon the last number of your Tax number.
From my experience of the past 2 years, you will receive a seperate demand for the 'property tax' later in the year. Whether it comes direct to you or your representative I can't say. Mine came directly to me. In the scheme of things, it has not been a big bill - somewhere between the electricity and gas bills!
At the end of the day Jim, speak to an accountant! Don't rely on heresay!
All the best,
Bob G.
Message posted by thecorfiot on 25 February 2011 at 11:30am - IP Logged
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Apropos my last message, I have just received the following from Kathy Tzilivakis at the Athens News.
"Thank you for your email. We are currently working on an informative/practical article about the new income tax laws. We will definitely explain the issues that relate to expats living in Greece. The article will be published next month."
Let's hope that this helps clear up some issues.
Bob G.
Message posted by jimmy uncles on 25 February 2011 at 11:53am - IP Logged
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Quote: Originally posted by thecorfiot on 25 February 2011
Firstly, I should point out that we are permanent residents in Greece. It makes a difference. As a retired police officer, the UK tax authority tell me that I fall within the category of a 'Crown Servant' and as such am not allowed under UK tax law to pay my income tax anywhere other than the UK.
I too and a Crown Servant, living permanently in Greece (as in for a period in excess of 3 months - in my case 5 years minimum). However, I am not retired, but have been granted an extended period of unpaid leave. In the meantime I am working in Greece (not as a Crown Servant) and pay my taxes within the Greek system.
Ergo, as I said in my earlier post, even in matters where on the surface situations appear very similar, they are not necessarily the same - one man's information can be another's misinformation...
(PS, as an aside, I guess the difference here is that Bob's police pension is an income derived from a UK public body, whereas my income is not, hence the different rules).
Message posted by jrk on 28 February 2011 at 5:36pm - IP Logged
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"At the end of the day Jim, speak to an accountant! Don't rely on heresay!"
Thanks for the helpful replies. Accountant, I will pursue it this time. I think it is useful to have background even peripheral information and hear experiences. And useful too perhaps for others buying into the Island.
"You know the future king?"
No, not as such, but met him William a few times.
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However, Recent events have made me rethink!
