The official announcements on Single Property Tax (ENFIA) changes

Late on August, the Ministry of Finance released the changes in the procedures and the calculation of the Single Property Tax (ENFIA).

More Specifically, the Minister of Finance mentioned that the establishment of a full database which includes analytically the property status of taxpayers and which embodies immediately all the property transfers and changes, is a very important step for the broadening of the tax base and the fair taxation in general. Moreover, the Minister of Finance Mr. Hardouvelis emphasized that the main target of the Government is the funding of the Local and Regional Authorities using the revenues of the Single Propety Tax (ENFIA).

The most significant changes, regarding Single Property Tax, are summarized in the following key points:

• For plots of land, located in villages but outside regions of Objective Determination of Value, the value on which the Property Tax will be calculated, is the minimum between the objective value between ENFIA clearance and last year’s clearance (FAP).

• The tax payment may be realized in six installments, without any extra charge, starting from the end of September. It is noted that, according to the previous scheme, there was provision only for five equal installments.

• The issuance of Tax and Insurance Compliance Statement are not considered as prerequisites for tax exemption. This regulation is effective for individuals and legal entities too.

• The tax exemption granting becomes simpler for disabled people. Disabled people can request the tax exemption via the electronic platform of the Ministry of Finance (TaxisNet).

• Property tax will not be imposed on all properties located on Kefalonia Island, which was recently hurt by the earthquake.

Additionally, the General Secretary of Public Revenues is going to issue a guidebook for the proper filling of E9 form. This issue will also point out the most usual errors made by taxpayers and observed in E9 forms clearance.

To conclude, the proper presentation of your asset situation is considered particularly important, in order not to pay more taxes than you are obliged to. Therefore, obtaining professional services by experienced accountants and tax consultants is absolutely necessary.