Real Estate: Who are excluded from the single tax

The Greek government is trying to put a retroactive tax on the money that was changing hands under the table in almost every real estate transaction in decades.

The bill was passed in principle by the parliamentary groups of New Democracy and PASOK and was opposed by the other parties.

Finance Minister Yannis Stournaras tabled in parliament a series of changes and additions in the technical terms of the bill for the Single Tax on Real Estate.

Among the reformulations are the following:

-       ENFIA is reduced by 60% for properties under partial prohibition on use within the city or settlement limits

-       the calculation of ENFIA provides for zero rate of specific buildings and zero rate of auxiliary spaces for special buildings for veterinary use

-       families with three kids, large families and families with a member with a disability at more than 80% are excluded from paying the ENFIA and the cap of total taxable family income rises from 9,000 euros to 12,000

-       the minister assures that for the partial or total exemption from paying the ENFIA to apply, the person must not have unregulated arrears to the government or the insurance funds

-       it provides for indemnity for the non-payment of debts, taxes, fines and debts to the State and the social security funds for presidents, CEOs and directors of the Union of Agricultural Cooperatives of Thessaloniki

-       farmers who fall within Article 41 of the VAT Code are required to submit and provide tax information statements, suppliers and customers, aggregate data on retail transactions.