ECONOMY

Single property tax may have threshold waived

Property owners may have to pay tax even from the first euro of their assets this year, without any tax-free threshold, if one of the government’s proposals is approved by the cross-party committee.

The final clauses of the new single tax on property are expected to be finalized by Friday, following the meeting held on Monday at the Finance Ministry with party representatives.

The first scenario is for no threshold and the other two for thresholds of 50,000 and 100,000 euros respectively, aiming to cash in some 3.8 billion euros from the taxation of what used to be the safest of investments.