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                 December, 2013


          o      Tax exemption for legalized  spaces of primary residences 

The Ministry of Finance has clarified by its decision with protocol nr. D13B 1185430 EX 3.12.2013 that exemption from taxes for the transfer of property, inheritance and parental benefits for the purchase of a primary residence, shall be granted also for spaces that have been subject to the provisions of law 4178/2013 (regarding the legalization/ settlement of illegal structures and  changes of use), under the condition that the procedure for payment of the special fine has been completed or a percentage of 30% of the total fine or of the relevant fee has been paid, according to the provisions of law 4178/2013 as well as law 4014/2011.

It is also noted that amounts already paid as taxes for the transfer of property, inheritance and parental benefits regarding legalized spaces, which are subject to the provisions for primary residences, can be returned as being unduly paid. The interested taxpayers must submit an application for the return of the said amount within three (3) years from the date of payment.


       oNew York Times: Investment Opportunities in Greece

The Greek economy is on the last step of the recession, a step before entering into orbit rebound and in the stock market of Athens there are investment opportunities, as noting on New York Times; foreign investors have begun to “fish", mainly, banking assets. A comprehensive analysis entitled "Window of opportunity for Greece and its investors», the U.S. newspaper says that the increasing demand for bank shares will benefit both banks, the Greek government and creditors – i.e. mainly the FSF – who have financed the recapitalizations.

As noted, the improvement of the economic-investment climate will allow banks to sell packages of non-performing loans, to the government in order to liquidate holdings in banks and the FSF to proceed with bank privatization, selling also its holdings.

The degradation of the Greek stock market in emerging markets will be "Barker and Bait" for prospective investors, say the NYT: "Investors believe that Greece is close to'' turn the corner'' after years of recession. To the rest of the world the opportunities for profit are few. That is why Athens is an excellent opportunity".

"Something is changing in Greece in connection with the investment opportunities," the newspaper said. "The situation was not attractive lately, but seems to be reversed: The Greece was" whipping boy "over the last four years. In recent months, the intention has changed. "

For more visit link: http://www.nytimes.com/2013/11/18/business/international/window-of-opportunity-for-greece-and-its-investors.html?adxnnl=1&ref=greece&adxnnlx=1384956092-zegJPJgRyX5fhdo7CHXURQ

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