Article 5(3) of the Capital Gains Tax Law 52/80, as amended, which provides for the exemption from capital gains tax for the disposal of securities which are listed on a recognized Stock Exchange, also applies in the following cases:
1. Disposal of units in an alternative investment fund whose establishment and operation are governed by the Alternative Investment Funds Law 124(l)/2018, and which are listed on a recognized Stock Exchange.
2. Disposal of units in an open-ended undertaking for collective investment whose establishment and operation are governed by the Open-Ended Undertakings for Collective Investment Law 78(l)/2012, as amended, and which are listed on a recognized Stock Exchange.
The author of the article is Michalis Parides.
Michalis is a junior legal consultant at Royal Pine & Associates. He is a holder of an LL.B from the University of Essex and an LL.M from the University of Leeds.
* This publication has been prepared as a general guide and for information purposes only. It does not purport to be comprehensive or to render professional advice. Before making any decision or taking any action that may affect your business, bespoke advice should be obtained.