For nearly a century, contracts and deeds drawn up in Greece were subject to stamp duty, according to the provisions of the Stamp Duty Code (KNTX, Presidential Decree of July 28, 1931, A' 239). However, these provisions, after almost a century of application, became outdated as they no longer met modern transactional needs and data.
A characteristic example of the outdated framework is the fact that the stamp duty was imposed exclusively on written contracts drawn up in Greece, regardless of the nature of the transaction. At the same time, the provisions did not clearly define the procedures for declaring, certifying, and collecting the duty, creating ambiguities regarding the obligation to declare and allocate the financial burden between the parties involved.
These shortcomings had obvious negative consequences both on the collectability of public revenues and on creating a climate of tax uncertainty, which negatively affected transactions and investments.
To address these issues and to ensure that tax legislation meets modern needs, it was deemed necessary to establish a new, modern institutional framework. With the new law 5135/2024, a unified tax is established for transactions, contracts, and deeds that are exhaustively listed in the law and are not subject to other indirect taxes (such as VAT, special consumption tax, real estate transfer tax, and capital taxation).
With the new legislation, the stamp duty is abolished on a series of significant transactions, such as loans for use, insurance transactions, the establishment and increase of capital of non-profit legal entities, bank guarantees, contractual interest on loans and credits, as well as on transactions related to stamps on fees (e.g., marriage licenses, professional licenses). Also, the stamp duty of 2.40% or 3.60% on withholdings in favor of public law legal entities, such as the National Organization for Medicines, the Judicial Buildings Financing Fund, and the Independent Authority for Public Contracts, is abolished.
The new edition titled "Digital Transaction Tax (Law 5135/2024)" includes the provisions by article of the new law, accompanied by the explanatory report. The book's appendices include the form and content of the submission declaration, a table of stamp duty rates (which continues to apply until 30.11.2024), as well as the codified provisions of the repealed KNTX.