Gr Capital Gains

---
name: gr-capital-gains
description: "Greek capital gains tax for individuals for tax year 2026, declared on the 2027 E1 return, under the Income Tax Code, ν. 4172/2013, arts. 41 to 43. Covers the 15% tax on gains from selling shares, partnership interests, bonds, derivatives and a whole business (art. 42); listed shares taxed only for a holding of at least 0.5% bought from 2009; the equity-value rule for unlisted shares; losses carried forward 5 years; stock options (art. 42A, 15% or 5%); the 15% tax on property gains (art. 41), which is suspended for transfers up to 31 December 2026 (ν. 5162/2024 art. 90); E1 codes 829 to 876 and deadlines; non-residents. Trigger phrases: capital gains tax Greece, υπεραξία, φόρος υπεραξίας, selling shares Greece, selling property Greece tax, E1 code 829. Out of scope: salary, business and rental income (gr-income-tax), residence and inbound regimes (gr-cross-border), company gains (gr-corporate-income-tax)."
license: "AGPL-3.0-or-later (code) / OpenAccountants Guide License v1.0 (content)"
metadata:
  source: openaccountants
  openaccountants_url: "https://www.openaccountants.com/skills/gr-capital-gains"
  jurisdiction: "GR"
  tax_year: "2026"
  last_updated: "2026-11-01"
---

# Greece: capital gains tax for individuals, tax year 2026

This skill covers the tax an individual pays in Greece on a gain from selling capital: securities, a whole business and real estate. It links to the pack's other skills instead of repeating them:

- Salary, pension, business profit, rent, dividends and interest, the E1 return and payment instalments: `gr-income-tax`
- Tax residence, non-residents, the 5A, 5B and 5C regimes and the foreign tax credit in detail: `gr-cross-border`
- Gains made by companies: `gr-corporate-income-tax`

The law is the Income Tax Code (Κώδικας Φορολογίας Εισοδήματος, ΚΦΕ, ν. 4172/2013), Part Two, Chapter ΣΤ', "Income from capital gains" (arts. 41 to 43). We read the Ministry of Finance codification, which includes amendments up to ν. 5264/2025 (Α' 239/19.12.2025). Capital gains are the fourth category of income (art. 7(2)(δ)). They are taxed on their own at a flat rate, apart from the art. 15 scale. Procedure and fines are in the Tax Procedure Code (ΚΦΔ, ν. 5104/2024), read in AADE codification Ε.2109/2025.

## Who this applies to

1. **Individuals who sell, for value, any of these** (art. 42(1)):
   - shares in a company not listed on a stock exchange;
   - shares and other securities listed on a stock exchange, if the seller holds at least 0.5% of the company's share capital;
   - interests in partnerships (μερίδια, μερίδες);
   - Greek government bonds, treasury bills and corporate bonds;
   - derivatives (options, futures, swaps, forwards and similar contracts, art. 42(2));
   - a whole business.
2. **Contributions in kind.** Putting any of these securities into a company's capital, in exchange for shares, counts as a sale (art. 42(1)).
3. **Employees, partners and shareholders with stock options or free share awards**, when they sell the shares (art. 42A).
4. **Individuals who sell Greek or foreign real estate** in a way that is not a business activity (art. 41(1)). The tax on these gains is suspended for transfers up to 31 December 2026, so for 2026 no property gains tax is due (see Rates).
5. **Greek tax residents** are taxed on gains worldwide; **non-residents** only on Greek-source gains (art. 3). For securities, a gain is Greek-source if a Greek business issued them (art. 5(1)(θ)). A sale of property in Greece is Greek-source (art. 5(1)(η)).

Not taxed under arts. 41 to 43:

- Listed shares where the seller holds less than 0.5% (art. 42(1)(β)).
- Securities traded on a regulated market or multilateral trading facility that were acquired before 1 January 2009 (art. 42(1), last subparagraph).
- Gains on corporate bonds and gains from Greek or EU/EEA mutual funds. AADE's E1 instructions tell taxpayers to enter these in the exempt-income codes 659-660 of Table 6, even though art. 42(1)(δ) lists corporate bonds.
- Gains on shares in shipowning companies taxed under ν. 27/1975 or art. 57 of ν. 4646/2019 (AADE E1 instructions, Table 6, codes 659-660).
- Gifts and inheritances. AADE's E1 instructions say transfers for no consideration are not within the Income Tax Code. They fall under gift and inheritance tax.
- Gains from the exchange of Greek government bonds under the Greek debt restructuring programme (art. 42(6)).
- Gains on assets sold inside a sole trader's business: these are business income, taxed on the scale (art. 21(1)). See `gr-income-tax`.

## Rates, bands and thresholds

"Codification" is the Ministry of Finance codification of ν. 4172/2013 up to ν. 5264/2025, linked under the table and in Sources.

| Item | Rate or amount | Year | Source |
|---|---|---|---|
| Capital gains tax on securities and on the transfer of a whole business | 15% | 2026 | ΚΦΕ art. 43, first subparagraph; Codification |
| Listed shares and other listed securities: holding needed for the gain to be taxed | At least 0.5% of the company's share capital | 2026 | ΚΦΕ art. 42(1)(β); Codification |
| Securities traded on a regulated market or MTF: taxed only if acquired | On or after 1 January 2009 | 2026 | ΚΦΕ art. 42(1), last subparagraph; Codification |
| Loss on securities: carry forward | 5 years, against future gains on art. 42(1) securities only | 2026 | ΚΦΕ art. 42(5); Codification |
| Stock options: minimum holding for capital gains treatment | Shares sold more than 24 months after the options were acquired | 2026 | ΚΦΕ art. 42A(1); Codification |
| Stock options in an unlisted new small or very small company (options acquired within 5 years of incorporation, company not formed by merger, shares sold more than 36 months after the options were acquired) | 5% | 2026 | ΚΦΕ art. 42A(2) and art. 43, second subparagraph; Codification |
| Capital gains tax on real estate | 15% (art. 43), but art. 41 is suspended | to 31.12.2026 | ΚΦΕ art. 72(33)(a), as amended by ν. 5162/2024 art. 90 (Α' 198/05.12.2024); Codification; [Housing Policy portal](https://stegasi.gov.gr/programs/anastoli-epivolis-forou-yperaxias-apo-metavivasi-akiniton/) |
| Real estate, if art. 41 applies: deduction from the reduced gain for property held 5 years or more | Up to EUR 25,000 | when not suspended | ΚΦΕ art. 41(9); Codification |
| Real estate, if art. 41 applies: holding-period reduction coefficient | 100% for 1 year, 93.0% for 5 years, 84.5% for 10 years, 68.7% for 20 years, 60% for 26 years or more (full table in art. 41(5)) | when not suspended | ΚΦΕ art. 41(5); Codification |
| Real estate acquired up to 31 December 1994 | Gain treated as zero | when not suspended | ΚΦΕ art. 72(26); Codification |
| Real estate acquired 1 January 1995 to 31 December 2002 | Reduction coefficient multiplied by 0.8 | when not suspended | ΚΦΕ art. 72(27); Codification |
| Special solidarity contribution (art. 43A) | Abolished for all income from 1.1.2023 | 2023 onwards | ΚΦΕ art. 72(74); Codification |

Codification: [Income Tax Code, Ministry of Finance codification up to ν. 5264/2025](https://minfin.gov.gr/wp-content/uploads/2026/04/%CE%9A%CE%A9%CE%94%CE%99%CE%9A%CE%9F%CE%A0%CE%9F%CE%99%CE%97%CE%A3%CE%97-%CE%A4%CE%9F%CE%A5-%CE%9A%CE%A9%CE%94%CE%99%CE%9A%CE%91-%CE%A6%CE%9F%CE%A1%CE%9F%CE%9B%CE%9F%CE%93%CE%99%CE%91%CE%A3-%CE%95%CE%99%CE%A3%CE%9F%CE%94%CE%97%CE%9C%CE%91%CE%A4%CE%9F%CE%A3-%CE%9C%CE%95%CE%A7%CE%A1%CE%99-%CE%A4%CE%9F-%CE%9D-5264-2025.pdf)

## The taxable base

### Securities and a whole business (art. 42)

**The gain** is the sale price received minus the acquisition price paid (art. 42(3)). Costs directly linked to the purchase or the sale are included in the acquisition price and the sale price (art. 42(3)). We apply that as purchase costs added to cost and sale costs taken off the proceeds.

**Listed securities.** The acquisition price and the sale price are taken from the transaction documents issued by the broker, bank or other body that carried out the trade (art. 42(4)).

**Unlisted shares and partnership interests.** The law replaces the contract price with the company's equity in two places (art. 42(4)):

- **Sale price** is the higher of the equity value of the shares sold at the time of the sale and the price or market value in the sale contract.
- **Acquisition price** is the lower of the equity value of the shares at the time of acquisition and the price in the acquisition contract.

So a sale below book value is taxed on book value, and a purchase above book value counts only at book value.

**Other acquisition rules** (art. 42(4)):

- Shares received by inheritance or gift: the acquisition price is the value on which inheritance, gift or parental-transfer tax was computed, or exemption granted.
- If the acquisition price cannot be determined, it is zero.
- Corporate actions up to the sale (splits, bonus issues) are taken into account.
- Shares bought at different times: the acquisition price is the average cost (total cost divided by total number).

**Contribution to a wholly owned company.** If an individual contributes Greek or foreign securities to a company in exchange for its shares, the sale price on contribution is the acquisition price of the securities contributed, so no gain arises. This applies only if the contributor is the sole shareholder or partner, the company is based in a state that cooperates on tax, and the shares received are sold at least 2 years after they were received. On that later sale, their acquisition price is the original cost of the securities contributed (art. 42(4)). Art. 42(7) still points mergers, divisions, share exchanges and asset contributions to arts. 52 to 54, but those articles were repealed by ν. 5162/2024 art. 59 from 5 December 2024 (codification footnotes 351 to 353). This skill does not cover the tax treatment of reorganisations.

**Losses.** If the result is negative, the loss is carried forward for the next 5 years. It can be set only against future gains on art. 42(1) securities (art. 42(5)). It cannot be set against salary, business or rental income. A loss on securities whose gain is exempt, such as listed shares below 0.5%, is not a loss for this purpose (AADE E1 instructions, codes 871-872). From tax year 2021 the carried loss is entered separately on the E1 and set off by AADE on assessment, not deducted by the taxpayer from the current gain (AADE E1 instructions, codes 829-830).

**A whole business.** The gain on selling a whole business is taxed at 15% under art. 42(1) and the same art. 42(3) definition. Gains on selling individual business assets while trading, and the proceeds of liquidation, are business income under art. 21(1), taxed on the scale (`gr-income-tax`).

### Stock options and free shares (art. 42A)

The benefit fixed when a stock option is exercised is a capital gain if the shares are sold more than 24 months after the options were acquired (art. 42A(1)). For listed shares the gain is the closing price minus the option price; for unlisted shares it is sale price minus acquisition price, applying art. 42(4) (art. 42A(4)). Shares awarded free under a performance or event-based plan give a capital gain when sold, measured as art. 42A(4)(a) and (b) set out. The rate is 15%, or 5% for the start-up case in art. 42A(2). AADE pre-fills the exercise-year amount in codes 423-424 for information; the taxpayer declares it in the year the shares are sold (AADE E1 instructions, codes 829-830).

### Real estate (art. 41), suspended for 2026

Art. 41 taxes the gain on a sale for value of real estate, a share in it, a right in rem over it, or shares in a company deriving more than 50% of its value directly or indirectly from real estate, where the sale is not a business activity (art. 41(1)). It is **suspended for transfers up to and including 31 December 2026** (art. 72(33)(a), date set by ν. 5162/2024 art. 90). AADE's E1 instructions confirm that property gains are not entered on the return while the suspension lasts. So an individual selling property in 2026 pays no property capital gains tax, and declares nothing in subtable 4Ε for it.

If the suspension is not extended for 2027, the computation for transfers from 1 January 2027 is:

1. Gain = sale price in the contract minus acquisition price. Costs of buying and selling are not included (art. 41(2)).
2. Acquisition price is the contract price for a purchase; the inheritance or gift tax value for an inheritance or gift; otherwise the sale price times the Bank of Greece urban housing price index of the acquisition year divided by that of the year before the sale (art. 41(2)). If it cannot be determined, it is zero.
3. A negative result is zero; property losses are not carried forward (art. 41(4)).
4. The gain is multiplied by the holding-period coefficient of art. 41(5).
5. Up to EUR 25,000 is deducted if the property was held for at least 5 years (art. 41(9)).
6. The balance is taxed at 15% (art. 43), paid to the notary when the contract is signed (art. 62(4)), with the declaration of art. 67A attached to the contract.

### Crypto-assets

The Income Tax Code as codified up to ν. 5264/2025 has no provision that names crypto-assets, and AADE's E1 instructions for 2025 income have no code for them. Art. 42(1) lists the taxable securities exhaustively. This skill does not state a Greek tax treatment for crypto gains. Ask the client what they hold and how often they trade.

## Deadlines and filing

| Event | Deadline | Source |
|---|---|---|
| Declare 2026 gains on securities and art. 42A income on the income tax return (form E1, subtable 4Ε), in myAADE / TAXISnet | 15 March to 15 July 2027 | ΚΦΕ art. 67(1) and (3); [AADE E1 instructions](https://www.aade.gr/sites/default/files/2026-03/Odigies_E1_2026_0.pdf) |
| Pay the tax | With the income tax assessment: 8 monthly instalments from the last working day of July 2027 to February 2028; early-payment discount applies (see `gr-income-tax`) | ΚΦΕ art. 67(6) |
| Real estate tax, when art. 41 applies (not in 2026) | Paid to the notary when the sale contract is signed; the art. 67A declaration is attached to the contract and counts as filed on that date | ΚΦΕ art. 62(4), art. 67A(1) to (3) |

E1 codes, from AADE's instructions for 2025 income (the 2026 form is not yet published):

| Code | What goes in it |
|---|---|
| 829-830 | Gain on securities issued by a Greek business, with the company's tax number (ΑΦΜ); also art. 42A income |
| 865-866 | Gain on securities issued by a foreign business; also art. 42A(1) and (3) income from foreign issuers |
| 867-868 | Foreign tax withheld or paid on those gains, for the art. 9 credit |
| 871-872 | Loss on art. 42 securities in the year, split Greek and foreign |
| 873-874 | Losses carried forward from earlier years, not yet set off |
| 875-876 | Gains on shares in shipowning and related companies under the shipping community's voluntary contribution agreement (ν. 4607/2019 art. 56, as amended by ν. 5000/2022 art. 6) |
| 659-660 (Table 6) | Exempt gains: listed shares below 0.5%, listed securities acquired before 1.1.2009, corporate bonds, Greek or EU/EEA mutual funds |

## Penalties and interest

From the Tax Procedure Code (ν. 5104/2024), AADE codification Ε.2109/2025:

| Breach | Penalty | Source |
|---|---|---|
| Late or missing return with no tax due | EUR 100 per breach | ΚΦΔ art. 53(1) |
| Late or missing return, taxpayer required to keep single-entry books | EUR 250 per breach | ΚΦΔ art. 53(2) |
| Same, taxpayer required to keep double-entry books | EUR 500 per breach | ΚΦΔ art. 53(2) |
| No return filed where tax would be due | 50% of the tax on the missing return | ΚΦΔ art. 53(6) |
| Inaccurate return: tax difference 5% to 20% of the tax declared | 10% of the difference | ΚΦΔ art. 54(1)(a) |
| Difference over 20% and up to 50% | 25% of the difference | ΚΦΔ art. 54(1)(b) |
| Difference over 50% | 50% of the difference | ΚΦΔ art. 54(1)(c) |
| Late payment | Interest from the day after the payment deadline | ΚΦΔ art. 52(1) |

Art. 53(2) applies only to taxpayers required to keep books. An investor who keeps no books is not covered by it, and we did not find a separate fixed fine for that case in the Code. The late-payment interest rate is not in art. 52; we did not read the percentage on an official page (see Sources).

## Cross-border points

- **Non-residents with Greek shares.** A gain on securities issued by a Greek business is Greek-source (art. 5(1)(θ)). But it is **exempt** if the seller is tax resident in a state that has a double tax treaty with Greece and gives AADE documents proving that residence (art. 42(8)). This exemption is in Greek law itself, so it applies whatever the treaty's own capital gains article says. A non-resident from a non-treaty state is taxed at 15%.
- **Property in Greece** is Greek-source for a non-resident (art. 5(1)(η)). While art. 41 is suspended, no Greek capital gains tax is due on a 2026 sale.
- **Residents with foreign shares** declare the gain in codes 865-866 and claim the foreign tax in codes 867-868. The credit cannot exceed the Greek tax on that gain (art. 9).
- **Inbound regimes.** Under art. 5A, foreign income is covered by the lump sum and not declared. Whether a gain is foreign income turns on art. 5(1)(θ). See `gr-cross-border`.
- Residence tests, the art. 5A, 5B and 5C regimes and the company exit tax are in `gr-cross-border`.

## Worked examples

### Example 1: listed shares, holding above 0.5%, carried loss

Eleni is Greek tax resident. She has held 0.8% of a company listed on the Athens Stock Exchange since 2020. In 2026 she sells the whole stake for EUR 260,000 and pays EUR 1,300 in fees. She bought it for EUR 200,000 plus EUR 1,000 in fees. Her 2022 return showed a carried-forward loss of EUR 10,000 on unlisted shares, which she has not yet used. A 2022 loss can be carried for 5 years (2023 to 2027), so it is still available in 2026.

Her holding is over 0.5% and the shares were bought after 2009, so the gain is taxable. Proceeds net of fees are EUR 258,700. Cost with fees is EUR 201,000. The gain is EUR 57,700. AADE sets off the EUR 10,000 carried loss, leaving EUR 47,700. Tax at 15% is EUR 7,155, assessed with her 2026 E1 and paid in the July 2027 to February 2028 instalments.

```oa-check
name: GR listed shares 0.8% holding, gain EUR 57,700 less carried loss EUR 10,000, 15%
inputs:
  sale_price: 260000
  sale_fees: 1300
  purchase_price: 200000
  purchase_fees: 1000
  carried_loss: 10000
  rate: 0.15
steps:
  - net_proceeds: sale_price - sale_fees
  - cost: purchase_price + purchase_fees
  - gain: net_proceeds - cost
  - taxable_gain: max(gain - carried_loss, 0)
  - tax: taxable_gain * rate
expected:
  net_proceeds: 258700.00
  cost: 201000.00
  gain: 57700.00
  taxable_gain: 47700.00
  tax: 7155.00
```

If Eleni had held 0.4%, the gain would be exempt, she would enter it in Table 6, and her EUR 10,000 loss would stay available.

### Example 2: unlisted shares sold below book value

Giorgos is Greek tax resident. In 2019 he bought 20% of a private Greek company for EUR 50,000. At that date his 20% share of the company's equity was EUR 40,000. In 2026 he sells the 20% to a co-founder for EUR 90,000. At the date of sale his 20% share of equity is EUR 110,000.

Art. 42(4) sets the acquisition price at the lower of equity value and contract price, so EUR 40,000, not the EUR 50,000 he paid. It sets the sale price at the higher of equity value and contract price, so EUR 110,000, not the EUR 90,000 he received. The taxable gain is EUR 70,000 and the tax at 15% is EUR 10,500. On the contract prices alone the gain would be EUR 40,000 and the tax EUR 6,000, so the equity rule adds EUR 4,500.

```oa-check
name: GR unlisted shares, art. 42(4) equity-value rule, 15%
inputs:
  contract_buy: 50000
  equity_at_buy: 40000
  contract_sell: 90000
  equity_at_sell: 110000
  rate: 0.15
steps:
  - acquisition_price: min(contract_buy, equity_at_buy)
  - sale_price: max(contract_sell, equity_at_sell)
  - gain: sale_price - acquisition_price
  - tax: gain * rate
  - tax_on_contract_prices: (contract_sell - contract_buy) * rate
  - extra_tax: tax - tax_on_contract_prices
expected:
  acquisition_price: 40000.00
  sale_price: 110000.00
  gain: 70000.00
  tax: 10500.00
  tax_on_contract_prices: 6000.00
  extra_tax: 4500.00
```

## Ask the client first

1. What exactly did you sell, and when: listed shares, unlisted shares, a partnership interest, bonds, derivatives, a whole business, property or crypto-assets? The rules and the rate differ, and property gains are suspended for 2026.
2. For listed shares: what percentage of the company's capital did you hold, and when did you buy them? Below 0.5%, or bought before 2009, the gain is exempt.
3. For unlisted shares: what was the company's equity at the dates you bought and sold, and what prices are in the contracts? The equity value can replace both prices.
4. Did you have losses on securities in the last 5 years that are not yet used? They reduce this year's gain.
5. Where were you tax resident in 2026, and can you get a residence certificate from a treaty state? A treaty-state resident pays no Greek tax on Greek shares.
6. If you sold property: on what date was the contract signed? Only transfers up to 31 December 2026 are covered by the suspension that is law today.

## Sources

| Source | URL | Read on |
|---|---|---|
| Income Tax Code (ν. 4172/2013), Ministry of Finance codification up to ν. 5264/2025: arts. 3, 5, 7, 9, 21, 41, 42, 42A, 43, 43A, 62, 67, 67A, 72(6), (7), (26), (27), (33), (74), with footnotes 270 to 306 and 538 to 539 | https://minfin.gov.gr/wp-content/uploads/2026/04/%CE%9A%CE%A9%CE%94%CE%99%CE%9A%CE%9F%CE%A0%CE%9F%CE%99%CE%97%CE%A3%CE%97-%CE%A4%CE%9F%CE%A5-%CE%9A%CE%A9%CE%94%CE%99%CE%9A%CE%91-%CE%A6%CE%9F%CE%A1%CE%9F%CE%9B%CE%9F%CE%93%CE%99%CE%91%CE%A3-%CE%95%CE%99%CE%A3%CE%9F%CE%94%CE%97%CE%9C%CE%91%CE%A4%CE%9F%CE%A3-%CE%9C%CE%95%CE%A7%CE%A1%CE%99-%CE%A4%CE%9F-%CE%9D-5264-2025.pdf | 2026-10-23 |
| Ministry of Finance, notice of the codification | https://minfin.gov.gr/koinopoiisi-kodikopoiisis-tou-kodika-forologias-eisodimatos-symfona-me-to-arthro-83-par-55-tou-n-5104-2024/ | 2026-10-23 |
| AADE, E1 return instructions (2025 income, filed 2026): subtable 4Ε, codes 829-876; Table 6, codes 659-660 | https://www.aade.gr/sites/default/files/2026-03/Odigies_E1_2026_0.pdf | 2026-10-23 |
| Tax Procedure Code (ν. 5104/2024), AADE codification Ε.2109/2025: arts. 52, 53(1), (2), (6), 54(1) | https://www.aade.gr/sites/default/files/2025-12/e2109_2025.pdf | 2026-10-23 |
| Housing Policy portal (stegasi.gov.gr): suspension of property capital gains tax to 31.12.2026 (ν. 5162/2024 art. 90) | https://stegasi.gov.gr/programs/anastoli-epivolis-forou-yperaxias-apo-metavivasi-akiniton/ | 2026-10-23 |

Not yet confirmed: whether the suspension of art. 41 will be extended past 31 December 2026 (a Ministry of Finance draft bill put to public consultation in October 2026, open to 1 November 2026, extends it to 2027 according to press reports; it is not enacted, and the codification and the Housing Policy portal both give 31 December 2026); the legal basis AADE relies on to treat corporate bond gains as exempt; the fixed fine under ΚΦΔ art. 53 for a late return with tax due by an individual who keeps no books; whether the 0.5% holding in art. 42(1)(β) is tested only at the date of sale or over an earlier period (the law's wording is present tense; we did not read an AADE circular on it); how AADE applies "included in the acquisition price and the sale price" for costs in art. 42(3) (we treat purchase costs as added to cost and sale costs as deducted from proceeds); the Greek tax treatment of crypto-assets, which the codified Code does not address; any amendment to arts. 41 to 43 made during 2026 after ν. 5264/2025; the late-payment interest rate under ΚΦΔ art. 52; the 2026 E1 form and code numbers, which AADE has not yet published.

## Today's figures and who stands behind this skill

This file is an AI skill (tax rules your AI follows) from OpenAccountants, copied on 2026-11-01. Rates, thresholds and deadlines change. For the current version of this skill, its official sources and the named accountant (if any) who stands behind it, call `get_skill` with slug `gr-capital-gains` on the OpenAccountants connector (https://www.openaccountants.com/connect), or read https://www.openaccountants.com/skills/gr-capital-gains. If neither is available, confirm every figure against the official source pages cited above before relying on it.