At Nikos Kolydas Accounting Office, you will find specialized accountants with proven expertise in supporting construction companies and contractors. With in-depth knowledge of the sector’s special tax framework, we have been responsibly managing all your accounting and tax obligations since 1999.
In general, companies undertaking small-scale technical works (i.e., contractors) fall under the mandatory electronic registration service for private building and technical projects, while construction companies may benefit from VAT input deductions on their expenses.
Guided by the applicable legislation, including Article 6 regarding the issuance of building permits and construction controls, we propose solutions tailored to your specific needs.
Accounting Services for Construction Companies
Specifically, the areas in which we specialize include:
Based on your specific characteristics and the issue date of the building permit, we determine whether your construction business is subject to VAT or not. We also accurately calculate your net profits.
We will advise you on whether you qualify for the VAT suspension regime for real estate (currently extended until 31 December 2026) and we will file the relevant application on your behalf.
If, as a business, you wish to proceed with sales of primary residences and you fall under the VAT suspension regime, we handle all required tax procedures to facilitate the sale (extraordinary VAT return, VAT adjustment, etc.).
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Submission of the commencement of business activity declaration
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Maintenance of accounting books and records in accordance with the Greek Accounting Standards (GAS)
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Filing of periodic VAT returns via AADE
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Payment of the VAT due within the statutory deadline
We calculate the taxable base and the total construction cost of a building for the contractor or construction company in land-for-flats arrangements.
Common Accounting Services for Construction Companies
In addition to the above, our specialized team also undertakes:
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Issuance of the Construction Project Registration Number (A.M.O.E.) and payment reference IDs for current contributions to e-EFKA and TEKA
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Organization and ongoing monitoring of accounting books and records
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Costing of project phases/sections
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Project budgeting
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Payroll processing and submission of the Analytical Periodic Declaration (APD)
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Project registration and social security contributions to EFKA
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Matters related to the Town Planning Authority (Urban Planning Office)
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Single-entry and double-entry bookkeeping; unfinished vs. completed properties; building permits issued before or after 2016
Following the incorporation of a new company, VAT obligations relating to real estate are highly specific and differ from those of other businesses. Maintaining a special construction cost ledger—both for taxpayers subject to VAT and for those under the VAT suspension regime—together with the sector’s special tax treatment, requires continuous monitoring and up-to-date guidance for construction businesses and contractors.
Consult our specialized team of accountants, tax professionals, and legal advisors to avoid unexpected financial burdens. We remain at your disposal for any assistance you may require.