ECONOMY

Discount on ENFIA felt by most owners

discount-on-enfia-felt-by-most-owners

Two out of three owners will see their Single Property Tax (ENFIA) drop 30 percent this year, as the 4,895,144 owners with assets valued at up to 60,000 euros who account for most of the government’s tax easing policy make up 67 percent of all owners, according to the Independent Authority for Public Revenue (IAPR).

The ENFIA pay notices issued last Friday – with the first tranche due by end-September – showed that this main category of owners will pay an average of 83 euros in total this year, down by some 35 euros from 2018. This adds up to savings of 173.6 million euros for them.

The decline will be felt more by the middle classes though, as 1,759,359 taxpayers with properties valued at between 80,000 and 1 million euros (i.e. 24 percent of all owners) are getting a 20 percent discount that adds up to 316.7 million euros, or 180 euros each.

In total, the ENFIA demanded of taxpayers comes to 2.54 billion euros, against 3.09 billion in 2018, with owners asked to pay 575.2 million euros less this year. The Finance Ministry expects the collection rate to rise from 74 percent in 2018 to 80 percent, thereby reducing the actual revenue loss for state coffers to 450 million euros.