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> Economy

200 million euros slashed in ENFIA amendment

The winners from the long deliberations are property owners of vacant flats with disconnected electricity, those who own real estate in 4,000 areas out of the town plan and home owners in areas struck by earthquakes

Newsroom September 10 09:00

The Finance Ministry tabled an amendment to the controversial single property tax (ENFIA) late Tuesday hoping to rectify numerous errors found last month. There were long deliberations over the amount of discounts that should be made following drafts that were submitted to the parties.

The final amendment provides for up to a 20% tax discount to vacant property that has no electricity connection after the Finance Ministry indicated that the figure should be under 20%. There were also tax reductions to 4,000 areas not included in the town plan and, in these cases, figures from last year’s property assessments will be used. Excluded from this year’s ENFIA are property owners from areas hit by earthquakes in 2014, such as those of the Ionian island of Kefalonia and those who have real estate in the Fthiotida and Fokida prefectures.

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Provisions are also tabled for financially vulnerable groups that are to be given a 50% slash on ENFIA after the total property value is taken into account and verified as being under 85,000 euros for unmarried people, 150,000 euros for couples or single parents with one underage child and 200,000 euros for couples or single parents with two or more underage children in their care.

21 New Democracy government MPs submitted questions to Finance Minister Gikas Hardouvelis on the role of unpaid Finance Minister adviser Nikos Karavitis in designing ENFIA. The economics professor left this position in June.

Figures of the General Secretariat of Public Revenue show that the tax reductions amount to a 200-million euro decrease in ENFIA guaranteeing a total revenue of 2.65 billion euros.

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