Greek tax authority tightens oversight of tax‑free parental transfers

The Independent Authority for Public Revenue (AADE) in Greece has intensified audits of tax‑free parental benefits and donations. It is reviewing roughly 5,900 cases of property and gift transfers, of which about 1,080 involve tax‑exempt parental benefits and cash gifts that used the €800,000 allowance.

Under the rules, transfers to first‑category relatives – parents, children, grandchildren, spouses or civil‑union partners – are exempt from tax up to €800,000, provided the money moves through the banking system. Direct cash deposits into the beneficiary’s account are not considered a bank transfer; they forfeit the exemption and are taxed at 10% from the first euro. Gifts to second‑ or third‑category relatives are taxable from the first euro. Property transfers also require specific documentation and must be reported via the myProperty platform.

AADE’s crackdown targets cases where the prescribed procedures were not followed or where schemes were used to evade tax, aiming to protect revenue while informing thousands of families and grandparents who use these provisions for wealth transfer.