BUSINESS

Farms exempt from supplementary property tax only for 2016

TAGS: Taxation

This is the only year that arable land will be excluded from the calculation of the Supplementary Tax, according to the amendment submitted on Wednesday on the Single Property Tax (ENFIA).

The measure is projected to have a fiscal impact of no more than 230 million euros this year and would have been in addition to the revenue target of 2.65 billion euros.

If it is deemed that the impact will be minimal next year as well, then it is likely farms will be excluded again.

The Finance Ministry also tabled an amendment stretching the number of ENFIA payment tranches from four to five, starting from September and ending in January 2017.

Online