Greek Parliament passes tax cuts & property tax bill

The bill passed with a large majority

The Greek Parliament Plenary passed the bill on tax cuts and more favourable terms for the 120 installment settlement with a large majority, as ruling ND, SYRIZA, KINAL, and Greek Solution voted in favour of the proposed provisions.

It the first law passed by the new government which provides that the 2019 special property tax (ENFIA) account will be incrementally decreased ranging from 10% to 30%.

Specifically as provided in the bill, the value of real estate is reduced compared to 2018 by:

– 30% for properties up to €60,000. There are 3,488 million property owners in this category.

– 27% for real estate up to  €70,000.

– 25% for real estate up to €80,000

– 20% for real estate up to €1,000,000

10% for real estate worth more than €1,000,000. There are 15,000 property owners in this category.