Agreement on certain exemptions from the taxation of immovable property received as a donation (SopS 58–59/1996)

The Embassy of Finland presents its compliments to the Ministry of Foreign Affairs of the Hellenic Republic and has the honour to propose that the Government of the Republic of Finland and the Government of the Hellenic Republic conclude an Agreement on the reciprocal exemption from taxes on gifts in certain cases as follows:

1. This Agreement shall apply to gifts represented by real property situated in a Contracting State, where the donor, at the time of the gift, was domiciled in, or a national of, whether or not domiciled in, that State, and the gift was made to the other Contracting State or to one of its statutory bodies on the condition that the real property in question be used for scientific or cultural purposes and for public benefit.

2. The term "real property" shall have the meaning which it has under the law of the Contracting State in which the property in question is situated. Shares and other corporate rights in a company the assets of which consist mainly of real property shall be assimilated to real property and shall be deemed to be situated in the Contracting State in which the real property held by the company is situated.

3. Gifts referred to in paragraph 1 shall be exempt from the following taxes or any identical or substantially similar taxes imposed after the date of the conclusion of this Agreement in addition to, or in place of, these taxes:

a. in Finland, the gift tax (lahjavero; gåvoskatten) and the communal tax (kunnallisvero; kommunalskatten) insofar as it is imposed on property acquired by gift;

b. in Greece, the Greek Gift Tax.

4. Th...