TAXATION

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PROPERTY TAXATION

The adjustment of properties’ taxable rates, known as objective values, is evolving into a tough mission, as the surveyors in many parts of the country (there are two for every area) have recommended very different zone rates. There are also major hikes being proposed in some areas that, if accepted, would lead to a significant increase in tax rates.


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PROPERTY TAXATION

The online declaration of the property transfer tax will soon be possible through a new platform the tax administration is about to launch on Taxisnet in the next few days.

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FINANCE

The gradual reopening of retail commerce and the advent of spring – which should prevent another lockdown in the market – is compelling the Finance Ministry to retrieve shelved plans for incentives to taxpayers to demand receipts for their transactions.

INTIME NEWS
TAXATION

An extensive plan aimed at containing tax evasion and increasing transparency in Greece is on the Finance Ministry’s drawing board, with the support of the Independent Authority for Public Revenue.


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PROPERTY TAXATION

Hundreds of thousands of property owners are set to see their dues for this year’s Single Property Tax (ENFIA) clearance slashed as a result of the considerable drop in their incomes last year.

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ECONOMY

Tax returns for income obtained in 2020 will be submitted later than usual this year. The electronic Taxisnet system is expected to open in mid-May, more than a month later than last year, according to Ministry of Finance officials.

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PROPERTY

The government’s pledge for a further reduction of the Single Property Tax (ENFIA) by 8% this year could still be implemented, according to Finance Minister Christos Staikouras, provided the pandemic subsides.


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FINANCE

The Finance Ministry is set to review the use of taxpayers’ asset data to establish the real level of their incomes – known as “tekmiria” – at least for the 2020 financial year.

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FINANCE

Budget data for 2020 showed that the health crisis resulted in a considerable contraction in tax revenues, which missed their target by 7.6 billion euros.

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PROPERTY

The scenario concerning the postponement of reforms to the real estate market’s taxation system is back on the table.



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PROPERTY

Landlords have suffered during the pandemic from the forced reduction of rents, with the compensation from the state taking longer than expected to reach their bank accounts.

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ECONOMY

The Finance Ministry has decided it is only fair to cancel the fines for taxpayers who have failed to spend 30% of the income they made last year via online transactions.

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ECONOMY

A joint decision by the ministries of Finance and Development paves the way for wealthy foreigners who have transferred their tax residence to Greece to invest in this country.


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FINANCE

One of the main instruments for bolstering enterprises in 2020 was the reduction or waiver of the corporate tax deposit, which provided the market with extra liquidity of 1.5 billion euros.

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ECONOMY

Taxpayers and companies with debts to the state have until Thursday to apply for re-entering the payment plans of 100-120 tranches, and must also pay December’s installment.