The construction sector has always been one of the driving forces of development for the domestic economy. By adding sectors of industry, commerce, and professional services to the construction sector, its contribution to shaping the country's GDP becomes even more significant. The contribution of the construction sector is equally important to the overall development of a country. It is inextricably linked to investments in areas such as tourism, industry, and generally urban and regional development.

The construction sector in Greece has also seen significant growth in recent decades, mainly since 1990. Naturally, the result of this growth was the creation of modern technical companies, consulting-technical offices, experienced and specialized technical personnel, and workforce, as well as the overall development of know-how and technical equipment. Despite the recession the sector experienced since 2007, its contribution to the Greek economy remains significant.

In this adverse climate for the construction sector, additional obstacles regarding the sale of real estate were introduced by the imposition of VAT on residences with building permits issued after 1.1.2006. The situation further complicated with the obligation for construction companies to convert unsold properties from goods to fixed assets after four years from their completion, with VAT payment. Recently, however, in order to provide incentives for the recovery of the real estate market, the application of VAT on properties has been suspended, taking into account the volume of unsold apartments for sale due to the prolonged recession the sector experienced.

The scientific team of Astbooks, taking into account all the above, wanted to create as complete a guide as possible regarding construction businesses. We hope that this 640-page edition, with numerous topics and over 200 examples, will be a useful tool for the accountant dealing with construction-technical businesses, helping them overcome potential difficulties they may encounter in their daily work due to the special accounting-tax requirements these businesses have. Specifically, this edition includes:

• Part A (VAT): Analysis regarding VAT on properties, according to Article 6 of the Code. It includes a detailed analysis of the suspension of the tax as well as specific topics such as services related to properties, professional leases, etc.
• Part B (Income Tax): Determination of profit from business activity and its taxation, depreciations, expense deductions, losses and their carryover, presumptions, tax withholding. This part also includes the provisions of the previous Income Tax Code (Law 2238/1994) for the imputed calculation of income as well as the completion of Table H of form E3 and form N.
• Part C (ELP – myDATA): Keeping books and records, transmitting data to the platform such as sales contracts.