Sponsorship of the purchase of land decided by the Ministry - All the details

A meeting of the Council of Ministers was held today, at the Presidential Palace, under the chairmanship of the President of the Republic Nikos Anastasiadis.

According to a written statement by the Deputy Government Spokeswoman Niovis Parisinou, during its meeting the Minister approved the Plan for the granting of sponsorship for the purchase of plots, in order to provide the opportunity for return in the form of 14% sponsorship based on the Plan, to a parent or guardian, who transfers to the adult child of the land, for the construction of a house that is eligible for the imposition of a reduced VAT rate of 5%.

As noted in the decision, the remaining terms of the Plan remain valid.

The differentiation was deemed necessary after the finding that unequal treatment has been created between the persons entitled to a refund under the Plan, in relation to the persons who are entitled to the imposition of a reduced VAT rate of 5%.