Greek Lawmakers Approve Property Tax Relief

by Ulrika Lomas, Tax-News.con, Brussels

08 August 2019

On July 30, 2019, the Greek parliament approved government proposals for a reduction in the unified property tax, ENFIA, and relaxed repayment rules for individuals with other tax debts.

Effective from January 1, 2014, ENFIA applies at varying rates depending on a number of factors, including, among others, the age of the property, its location, and number of storage rooms.

Under the bill approved by parliament, the ENFIA will be reduced by up to 30 percent depending on the value of the property, with lowest-valued properties receiving the largest percentage reductions.

In addition, parliament approved proposals to ease repayment terms for tax debtors by extending the repayment period to 120 months and reducing the minimum monthly payment amount.

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