Alt. FinMin: Inheritance tax exemption also includes land parcels and movable assets

The inheritance tax exemption introduced by the government recently involves movable assets as well, Alternate Finance Minister Theodoros Skylakakis told Real News in an interview published Sunday.

Commenting about the main opposition’s criticism on the newly introduced exemption on inheritance tax for properties worth up to 800,000 euros, Skylakakis said that this will affect a much larger segment of the population than Syriza realizes because it also affects unbuilt property, or land parcels: “These are 3.2 million hectares (32 million stremmas), as well as partnerships in businesses, that are worth many hundreds of billions.”

In addition, Greece has “very many small businesses, and the inheritance tax also relates to movable assets, bonds, shares, etcetera, as well as to 130 billion euros in household deposits in banks, which up to now had to pay 10% as inheritance tax from the very first euro.”

Skylakakis also said that the government will present its forecast for 2021 growth rates and the draft budget on October 4. The 5.9% growth rate forecast for the year “is extremely conservative, as the picture from the third quarter to the present is that the economy is doing well,” he said.

Asked about further tax reductions, he told his interviewer it is too early for such a move, “especially as we come out of a very deep recession because of the international pandemic crisis; what really counts is the rise in DGP.”