Register to receive Taxand’s latest opinion on topical tax news
News › Weekly Alert Article
Amendments to the ENFIA regime
The annual uniform tax on real estate property (ENFIA) has been introduced to broaden the real estate taxable base, as well as unify and achieve a fair allocation of property taxes. Taxand Greece provides an overview of the amendments to the ENFIA regime.
ENFIA was assessed at the end of July 2014 and the first assessments indicated significant failures that required changes in the law. As a result, the Greek Parliament introduced several amendments to the ENFIA regime including:
- Taxable values of plots in areas not included in the statutory value system will be calculated on the lowest price between the one applicable in the past and the one applied in the initial assessment
- Further discounts on tax enacted for isolated cases eg 20% for privately held residences not connected to the electricity grid during 2013
- Changes to the prerequisites for qualifying for full tax exemption and for claiming suspension of payment
- Supplementary tax shall be calculated at a reduced rate of 0.25% instead of 0.5%
- Deadline for full collection of ENFIA for 2014 has been extended from 31 December 2014 to 27 February 2015
The General Secretary of Public Revenue has announced an action plan aimed at the prompt integration of the ENFIA regime changes.
Quality tax advice, globally