AADE: WHEN ARE REAL ESTATE SALES BY AN INDIVIDUAL CONSIDERED A BUSINESS ACTIVITY!
With his circular, the Governor of AADE Giorgos Pitsilis clarifies when, in accordance with the applicable legislation, the sale of real estate by individuals can be considered by the tax authority as a hidden activity, the result of which must be taxed as business profit. Particularly interesting is the provision of par. 4 according to which the scope of the provision in question includes not only the systematic performance of similar transactions but even the individual transaction of sale by a natural person, as long as the purpose is profit, unless this concerns an asset that has been acquired through inheritance or as a gift from relatives up to the second degree or has been held for a period of time longer than five (5) years.