BUSINESS

Taxpayers bracing for huge bill

TAGS: Taxation

Alternate Finance Minister Tryfon Alexiadis added to confusion regarding the start of payments for the Single Property Tax (ENFIA) this year, saying on Saturday that the first of five monthly installments by the end of the year will be due in end-August.

The most likely scenario was that the first of four tranches would be due by end-September, but it is politically desirable for the government to spread the ENFIA tax payment across five monthly installments, not four.

For this to happen, the ministry will have to have issued its ENFIA notices within the next few days, just as taxpayers are starting to bear the brunt of the huge tax obligations ahead of them in the second half of the year.

It is estimated over 2.3 million taxpayers will have to pay additional tax for their 2015 incomes, starting from the deadline of the first tranche on July 29. Then some 6.1 million property owners will have to start covering the projected revenues of 3.8-4 billion euros the government will ask for through ENFIA this year. On top of that, taxpayers will also have to contend with the road tax, an increase in the so-called solidarity levy and several other charges that are due for payment by the end of the year.

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