ECONOMY

Minister says he hopes that ENFIA ends

Minister of State for Coordinating Government Operations Alekos Flambouraris stated on Thursday that he believes the Single Property Tax (ENFIA) will be replaced by a large property tax, given that it is not part of the reforms agreed between Athens and the eurozone this week, while calling on taxpayers to pay the last ENFIA installment, which is due on Friday.

He also announced that the tax-free threshold for the planned tax will be 500,000 euros per household, but did not explain whether that concerned the main residence or the sum of properties owned.

Flambouraris added that the objective values (property rates used for tax purposes) will not be reduced across the board, but that the cut will range between 10 and 40 percent depending on the area. The Council of State has issued a June deadline for the adjustment of objective values.