ENFIA dues at 2.55 bln euros

ENFIA dues at 2.55 bln euros

The total bill of this year’s Single Property Tax (ENFIA) comes to 2.55 billion euros, according to data from the Independent Authority for Public Revenue after the processing of 7.29 million notices issued over the weekend.

Some €865 million of that amount will have to be paid by the end of next month, as the October tranche will also include September’s. The last installment is due by end-February 2021.

The government’s big concern is whether taxpayers will be able to meet their obligations because of the health crisis and the problems it has caused. Up until 2019 the ENFIA collection rate had stood at around 80%.

This year 1,284,890 individuals and enterprises have been partly or fully exempt from having to pay ENFIA, including 3,394 inhabitants of the 28 islands recently exempted from the property tax through an amendment in Parliament: They have been spared having to pay tax of €769,297 in total for a sum of assets valued at over €100 million.

The tax administration’s figures show that the total property tax originally calculated came to €3.219 billion, with the main tax coming to €2.588 billion and the supplementary tax (imposed on large properties) to €631.38 million. After the discounts and exemptions, which come to €661 million, the sum due is €2.55 billion. The tax for individual owners adds up to €2.073 billion, with the remaining €484.47 million concerning corporations.

The bulk of owners – 4.814 million – are those with assets valued at up to €60,000, who this year will have to pay the sum of €403 million. Another 344,026 have assets worth €60,000-€70,000 and will pay ENFIA of €85.9 million in total. Those with properties of €70,000-€80,000 number 283,546, based on data correct on January 1, 2020, and will have to pay the sum of €82.2 million. Owners of assets with an objective value of €80,000-€1 million number 1,767,761 and this year must pay €1.276 billion, while the 14,340 owners with properties over €1 million should pay €224 million.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.