Editorial EDITORIAL

A curse instead of a boon

COMMENT

There was a time when it was a good thing for the older generation to work hard to leave something – property or money – to their children. For many Greeks today, however, real estate has become a curse and an increasing number would rather disclaim their inheritance than take on the tax obligations it carries.

The culprit is the unreasonable rate of the ENFIA tax on properties that have nosedived in value and cannot be sold.

This is a serious injustice that must be remedied by the next government, which needs to target tax evasion as a revenue-raising measure rather than trying to get more out of property owners who have already been wrung dry.

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