Friday February 27, 2015 Search
Weather | Athens
11o C
6o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Property tax surplus may lead to more installments or cuts

By Prokopis Hatzinikolaou

The government is considering an increase in the number of installments allowed for the payment of the new Single Property Ownership Tax (ENFIA) for 2014 and to reduce its size from 2015 if the amount taxpayers are asked to pay exceeds that provided for by the budget.

The Finance Ministrys online tax portal (Taxisnet) on Friday issued the first ENFIA pay notices for home owners, stating that the tax is payable in five installments, with the first due by August 29. The government, however, is now examining the possibility of having the tax paid in up to seven installments, through end-February, in order to make sure that as many taxpayers as possible pay the levy, which replaces the previous Property Tax (FAP) and the tax imposed via electricity bills.

Some 1 million home owners will be asked to pay more property tax this year as they own properties that were illegal until 2013 and have now been legalized, or had properties where the power had been disconnected and therefore could not be charged via their electricity bills.

Sources also say that if the amount imposed exceeds 3.2 billion euros, the surplus amount will not be returned directly to taxpayers but will be examined in the general context of lightening the overall tax burden on Greeks.

The government and Greeces creditors have agreed on a target of 82 percent payment of the tax imposed, so that state coffers receive 2.65 billion euros. Yet with expired debts increasing by 1 billion euros per month, it appears unlikely that eight in 10 property owners will pay up on time, especially at a time when income tax is also due. This is a major concern for the ministry, which is why it is not harboring any major expectations from the ENFIA takings.

For the time being the prime ministers office is ruling out a reduction to the ENFIA tax for this year, even if collection beats the original target. If there is a surplus in takings it might be used to plug other holes, such as the one created by a court ruling against the pay cuts to the police and the armed forces.

What the PMs office is considering is including the lightening of the ENFIA burden in the package of tax cuts planned for next year, provided Athens secures its creditors consent and there is no fiscal gap in next years budget.

ekathimerini.com , Friday August 1, 2014 (22:33)  
Restive Bundestag to approve Greek bailout extension
German MPs begin debate on extending Greek bailout program
Minister says he hopes that ENFIA ends
Postponing an IMF tranche means default
Govt official: bill reinstating ERT, rehiring staff to go to Parlt on March 5
Draft legislation foreseeing the reinstatement of former state broadcaster ERT, which was abruptly closed down in June 2013 by the previous conservative-led administration, will be submitted...
Govt adviser suggests Greek MPs could vote on deal in separate bills
Even as other eurozone parliaments, including Germany's, held votes on an agreement between Greece and its creditors to extend the country's loan agreement, a senior adviser to Prime Ministe...
Inside News
SOCCER
Ten-man Olympiakos couldnt overcome Dnipro
Olympiakos drew 2-2 with Dnipro from Ukraine at home on Thursday, playing almost the entire second half with a man down, to bow out of the Europa League, despite facing an opponent which on ...
BASKETBALL
Greens lose at Maccabi but preserve head-to-head advantage
Panathinaikos suffered its third loss in eight games at the second stage of the Euroleague going down 73-70 at Maccabi Tel Aviv on Thursday, but has preserved its better head-to-head record ...
Inside Sports
COMMENTARY
A breath of opportunity
We are still living in the Greece we know: The government is struggling to explain its retreat in the face of our creditors, the opposition (including dissidents in SYRIZA) smells blood, we ...
EDITORIAL
Give the green light
Foreign investment is a crucial component of economic recovery and Greece needs to start bringing it in fast. Instead, the government, like others before it, is scaring it off in a bid to sa...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Govt official: bill reinstating ERT, rehiring staff to go to Parlt on March 5
2. Govt adviser suggests Greek MPs could vote on deal in separate bills
3. German lawmakers approve extension of bailout program for Greece
4. Prosecutor orders probe into claims of abuse at Amygdaleza migrant facility
5. Restive Bundestag to approve Greek bailout extension
6. German MPs begin debate on extending Greek bailout program
more news
Today
This Week
1. Tsipras reversal draws Greek sympathy as party rumblings rise
2. German MPs begin debate on extending Greek bailout program
3. Restive Bundestag to approve Greek bailout extension
4. German lawmakers approve extension of bailout program for Greece
5. Prosecutor orders probe into claims of abuse at Amygdaleza migrant facility
6. Gov't adviser suggests Greek MPs could vote on deal in separate bills
Today
This Week
1. Greece prepares extension request for eurozone approval
2. Time for Alexis Tsipras to keep his nerve
3. Stubborn but not almighty
4. Greek bailout deal faces review by euro officials next week
5. Greece says eurozone deal won time as cash bled from banks
6. The ignorance of the West about the culture of Islam
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.