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Which transactions are not eligible for tax deduction?

The following non-consumer expenses are excluded from establishing entitlement to tax deduction:

  • Rents
  • Vehicle Circulation Tax
  • Purchase of vehicles (cars, motorcycles)
  • Purchases of vessels, aeroplanes and aircraft
  • Purchases of residences, plots and other real estate properties
  • Payments of assessed amounts due to the State, of taxes, contributions etc.
  • Payments of loan instalments
  • Purchases of investment products (equities, bonds etc.).

In addition, the following expenses are not eligible for tax deduction:

  • Payments on cards
  • Transactions with corporate cards
  • Transactions with unidentified prepaid cards
  • Transactions in cash
  • Cash withdrawals at Automatic Teller Machines (ATMs) or at the cash desk of the payment services provider
  • Transactions involving fund transfers and deposits to third parties
  • Purchases from non-EEA countries.

Also, expenses made with cards issued abroad are not eligible.

Finally, expenses in the “Health” category (of ELSTAT's Consumer Price Index) in relation to medical and pharmaceutical care (doctor’s fees, hospitalisation expenses, diagnostic centres, medicines, pharmaceutical goods etc.) are excluded. A tax discount of 10% applies to these expenses (up to a maximum amount of €Euro 3,000), provided that they exceed 5% of the taxable income and have been paid by card or other electronic payment means.

The ministerial decisions awaited should provide more clarifications.

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