TAXATION

ENFIA dues of 800 mln euros by October 29

enfia-dues-of-800-mln-euros-by-october-29

By next Friday, October 29, property owners who don’t pay their Single Property Tax (ENFIA) in a lump sum will have to pay a double tranche toward their dues.

The sum that 7 million individual taxpayers and 65,000 corporations must pay within a week comes to 800 million euros, an amount set to bolster state coffers, which since last month have seen revenues grow.

Nevertheless, those who are unable to pay the double tranche for October and September may choose some alternative ways of payment, some of which are interest-free while others raise the overall cost.

These are the options for property owners:

* They can pay the regular six installments, with the first two bundled together being payable till October 29. The final tranche is due by end-February.

* Credit card payment: Taxpayers can pay the entire amount due toward their ENFIA with a credit card. Each taxpayer will then be able to cover the tax in 12 interest-free installments. The number of taxpayers choosing credit card payments has grown significantly over the last few years, as many property owners are unable to pay the dues the taxman demands every month.

* Standard arrangement: This payment plan offers up to 24 monthly tranches for the payment of ENFIA, but they incur interest. Taxpayers can have the ENFIA dues arranged to be paid within two years, without any income or property criteria, but the higher the number of tranches, the higher the interest climbs. For example, for anyone arranging their dues in up to 12 monthly installments, the interest comes to 5.32% per year, while using between 13 and 24 tranches will take the interest to 6.82% annually.

* There is also the option of the Independent Authority for Public Revenue website (aade.gr), through which taxpayers can pay not only the tranches due by October 29 but also the entire set of ENFIA dues for the year. That is also possible via banks’ internet and mobile banking services, with each of the four systemic lenders having some 4 million network users. Tranches are also payable via ATMs and phone banking.