Tuesday September 30, 2014 Search
Weather | Athens
26o C
17o 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 Ministry’s 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 Greece’s 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 minister’s 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 PM’s 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 year’s budget.

ekathimerini.com , Friday August 1, 2014 (22:33)  
Political clouds over Greece deter bond investors
Major US deals for Corinth Pipeworks
Greek court rules OPAP´s monopoly is legal
Greek statistics service delays retail sales data release
Would-be commissioner Avramopoulos sets out priorities on migration
Dimitris Avramopoulos, the EU commissioner-designate for migration and home affairs, on Tuesday sought to set out his priorities for a post regarded as more crucial than ever amid increasing...
Money ring sent 4.5 mln abroad
Two Afghan employees at a currency exchange bureau in central Athens and a Greek alleged to own the establishment were detained on Tuesday in connection to the alleged illegal transfer of mo...
Inside News
SOCCER
All team sports suspended next weekend in memory of dead fan
The government announced on Monday the suspension of all team sports events in Greece scheduled for next weekend, October 4 and 5, in the memory of the Ethnikos Piraeus fan who died a few ho...
SOCCER
Karamanos punishes Michel for deeming him surplus
Atromitos forced Olympiakos’s first loss this season in all competitions on Saturday to allow PAOK to go alone on top of the Super League table on Sunday. Odds-on title favorite Olympiakos l...
Inside Sports
COMMENTARY
Next-day jitters
It is usual for Greek governments, whether one-party or coalitions (which are normally loath to actually work together), to claim that their only real challenge is dealing with the country’s...
EDITORIAL
No sweet debt deals
The lion’s share of Greece’s debt is held by European Union member states and the International Monetary Fund. A writedown of the European part of the debt would require the approval of the ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Would-be commissioner Avramopoulos sets out priorities on migration
2. Money ring sent 4.5 mln abroad
3. Troika talks begin amid coalition tensions
4. Halandri Roma shacks to be demolished
5. Political clouds over Greece deter bond investors
6. Major US deals for Corinth Pipeworks
more news
Today
This Week
1. Next-day jitters
2. Roma camp off Mesogeion Avenue set for demolition amid reactions
3. No sweet debt deals
4. Commissioner-designate Avramopoulos to face three-hour interview on EU's migration portfolio
5. Greek unemployment dips to 27 pct in June, but still highest in EU
6. Roma camp evacuation postponed; flow resumes on Mesogeion Avenue
Today
This Week
1. Alexander the Great's tomb not at Amphipolis, says Culture Minister
2. Greece may opt for unusual president to avoid snap polls, Venizelos says
3. Woman allegedly buried alive by accident in northern Greece
4. Salaries in Greece continue to slide, dipping 1.4 pct in Q2
5. Venizelos denies jihadis are being trained in Greece
6. Should you bet with Kissinger on where the world is heading?
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.