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Greece Approves Real Estate Tax Amendments

29 September 2014

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Approved Changes

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Greece

On 11 September 2014, the Greek parliament approved several amendments to the application of the Uniform Tax on the Ownership of Real Estate Property (ENFIA). ENFIA was introduced by law 4223/2013 and replaced the state real estate tax (FAP). The tax applies from 1 January 2014 and was first assessed for 2014 in July. Following the first assessment it was apparent that amendments were needed The main amendments recently approved include: The taxable value of plots located in areas not included in the statutory valuation system will be calculated on the basis of the lowest between the tax base applied...