Sunday November 23, 2014 Search
Weather | Athens
18o C
10o 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)  
Fitch keeps Greek rating at B, outlook stable
More cash for banks with same papers
Growth to fuel rise in revenues
Commercial property draws interest from investors
Cyprus on agenda in Biden visit to Istanbul
The prospects for the resumption of stalled peace talks on Cyprus and the issue of energy security were among the matters discussed on Saturday by US Vice President Joe Biden and Turkish gov...
PASOK nixes Papandreou leadership challenge
The junior coalition partner PASOK rejected over the weekend a proposal by the partys former leader and ex-premier George Papandreou for the party to call an emergency congress and a subseq...
Inside News
INTERVIEW
Tokyo hopes to change the world
The 2020 Summer Olympic and Paralympic Games in Tokyo will serve as a springboard for the rebuilding of Japans image and economy following the triple blow of the earthquake, tsunami and nuc...
BASKETBALL
Big win for Greens, tight one for Reds
Panathinaikos scored a crucial as well as emphatic away win at Turow on Thursday that should see it qualify from its tough group to the top 16 of the Euroleague, while Olympiakos saw off vis...
Inside Sports
COMMENTARY
Extremism from a bygone era
There are times when we seem to be overcome by self-destructive madness. I hear various commentators and politicians speaking in extreme terms of a junta, of defections, gallows, collaborato...
EDITORIAL
No call for more games
Psychological warfare has been a part of the negotiations between the troika and Athens from the very start of the crisis. But the situation is much different now and troika decision-makers ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Cyprus on agenda in Biden visit to Istanbul
2. PASOK nixes Papandreou leadership challenge
3. Troika tests govt nerves as budget rift persists
4. Climate change to hit farming, Greek coastline
5. Piraeus nightclub shooting leaves 3 seriously injured
6. London court to rule on extradition of former judge
more news
Today
This Week
1. Extremism from a bygone era
2. No call for more games
3. PASOK nixes Papandreou leadership challenge
4. Piraeus nightclub shooting leaves 3 seriously injured
5. Climate change to hit farming, Greek coastline
6. Fitch keeps Greek rating at B, outlook stable
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
3. Anti-junta uprising anniversary to be marked amid tight security
4. Biden heads to Istanbul amid tension over Cyprus EEZ violation
5. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
6. Every age has its collaborators
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.