Comprehensive tax reform introduced – capital gains

Several amendments to the treatment of capital gains are introduced by Law 822 published in the Official Gazette of 17 December 2012 and in force as of 1 January 2013. Previously, capital gains were treated as ordinary income.

As from 1 January 2013, gains derived by the transferor (resident and non-resident taxpayers) from the transfers of assets, goods or right of a resident company are subject to capital gains tax. In the case of gratuitous transfers (donations, gifts, estates, lotte…