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Greek goverment is to attract as many foreign investments as possible.

The Finance Ministry is finalizing measures to ease the burden on property owners too, saying the tax discount will not be the same for all landlords affected by the rent discounts, while offering some details about how the Golden Visa program may resume.

Addressing a teleconference on the property market organized by Prodexpo Real Estate on Tuesday, Deputy Minister Thodoros Skylakakis said the government is not considering increasing the 40 percent rent discount which currently applies to workers and companies hurt by the coronavirus measures.

He also explained that the Single Property Tax (ENFIA) “discount for property owners will not be horizontal – i.e. for everyone. On the contrary, it will concern those hurt and will be proportionate to the degree of each landlord’s losses.”

The ministry also approved the 40 percent reduction on the rent that university students pay in cities away from their family homes, provided they are the dependent children of employees at enterprises harmed by the crisis to the extent they had to stop working.

Skylakakis also said on Tuesday that, if not today, then in the next few days the government will announce that foreign investors will be able to apply for a residence permit, known as a Golden Visa, through proxies too. This means their physical presence at the various agencies of the Migration Policy Ministry will not be necessary. This is one of several measures the government will be introduce in the coming weeks so as to get the economy restarted from early May.

“We intend for all activities, services and operations required to get going so as to make it possible to implement investments in Greece from abroad. To accelerate the course of growth in the coming months, we will seek to lift the bureaucratic obstacles that currently exist in the property market,” said Skylakakis.

The main objective is to attract as many foreign investments as possible, at an even faster pace than before the coronavirus outbreak. “We will also seek out special protocols so as to accept people from abroad wishing to invest in the realty market,” he added.

Source: eKathimerini

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The income of all taxpayers is due for a boost in 2020

The income of all taxpayers (salaried workers, pensioners, farmers and self-employed professionals) is due for a boost as of January 1, when reduced tax rates come into effect. For the first time in over a decade individuals and corporations alike will see a reduction to their income tax burden, with a further cut being possible when the government announces its decision on the gradual abolition of the solidarity levy in mid-2020. The tax breaks are greater for taxpayers on low incomes, families with children and freelance professionals, while they will be more limited for middle-range earners, as Prime Minister Kyriakos Mitsotakis admitted recently. On a monthly basis, the tax cuts for unmarried or married salaried workers without children will reach up to 13 euros, dropping to 11 euros for salaried workers with one child. The monthly easing comes to 14 euros for taxpayers with two children, and in the cases of workers with three children, their monthly savings will come to 23 euros. For example, a salaried worker earning 10,000 euros a year currently pays 300 euros in tax. From January the annual tax will drop to 123 euro, down by 177 euro per year. Notably, this concerns incomes up to 20,000 euro per year, as for the income brackets between 20,000 and 50,000 euro the tax breaks are significantly smaller. This is due to the changes implemented to the way the new tax discount (the tax-free ceiling) is calculated. Among the big winners of the new tax law are freelancers: When their 2020 incomes are examined after the submission of their tax declarations in mid-2021, they will see a reduction to their tax burden which in some cases will exceed 1,300 euros per year. This will be thanks to the slashing of the introductory tax rate from 22 percent to just 9 percent. Therefore, those who declare yearly incomes up to 10,000 euro will see their tax shrink by 60 percent or 1,300 euro, dropping from 2,200 to just 900 euro. It is reminded that self-employed professionals who do not have a labor contract are taxed from the first euro of their net income declared to the tax authorities, as they do not enjoy the privilege of a tax-free ceiling that salaried workers and pensioners have.

Source ekathemerini.

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Opportunity to fix errors on E-9 property owner’s form

The Independent Authority for Public Revenue activated its online platform for the correction of any errors made in the E9 property declaration form that may have resulted in erroneous calculations for the Single Property Tax (ENFIA) this year.

Property owners who have identified any mistakes or omissions in their E9 form can now correct the details concerning their assets on the Taxisnet system (on, which will immediately adjust their ENFIA dues accordingly. If the reduction in the tax stemming from the corrections exceeds 300 euros, the owner will be invited to their local tax office to present the necessary documents.

Any changes to declarations for any of the years between 2010 and 2018 can be automatically transferred to 2019, changing their property details as of January 1, 2019.

Please do not hesitate to contact us if you need to correct your E-9 property owner’s declaration form or if you have any questions about it.