BUSINESS

Less property tax in the future, says finance minister

The government will commit itself to a gradual reduction in the future payments expected of taxpayers for the country’s new property tax, ENFIA, as long as Greece’s tax base widens, Finance Minister Gikas Hardouvelis noted on Wednesday.

At the same time, the minister made clear that the matter of ENFIA discounts on properties not connected to the country’s power grid – one of many issues that have surrounded the new tax this summer – would be examined at a latter date.

In his remarks on Wednesday, the finance minister also noted that the objective was for all revenues to be collected from the new tax, which replaces the so-called FAP tax and a levy paid via electricity bills, to be passed on to local governments.

Marred by many imperfections when first announced earlier this summer, ENFIA, whose implementation was delayed as a result, has undergone a number of revisions with the aim of making it fairer for taxpayers. The revisions, expected to be submitted to Parliament on Thursday with the objective of having the new tax up and running by mid-September, include six, instead of five, monthly installments, beginning in late September. Also, earthquake victims in Cephalonia will be exempted for a year.

Online