Review of the new Statement of Property (E9 2014) and the main changes from 1/1/2014 to date.

With the new Tax Law 4223/2013 which has effect from 1/1/2014 have been made significant changes in taxation for those who own or have rights in property in Greece.

The new law from the start of its validity has undergone many changes, and that makes the correct display of the property quite complicated.

One of the key changes is the introduction of the new Uniform Real Property Tax, called (EN.F.I.A). The specific tax has brought a large increase of tax payable in respect older taxes and that makes the proper supplementing of statement necessary. An incorrect presentation of assets and rights to the statements of E9, can in any future sale or transfer of a right, bring us significant penalties and hassle as notaries can not do any act if our property we have, is not properly mapped and of course the EN.F.I.A had not paid.

By the year 2013 we had the Property Tax called (FAP), which as of 2014 is repealed. Nevertheless needs attention as it continues to apply to tax property obligations which existed before its repeal. Except these obligations still remain valid and some articles of the old law (for example the article for the issuance of the Certificate FAP).

One of the major changes of the new law is the deadline for the submission of the Property Statement E9, where should any change become to submit within 30 days.

At this time the taxis system accepts amending E9 statements for changes relating to properties that we had in our possession until 1/1/2014. Any new Statement, modification or correction can be made until December 19, 2014 for the years 2011, 2012, 2013 without penalty for late submission. We can since the application of taxis is available to make as many amending statements deemed necessary for the proper configuration of our assets and rights. In the case we submit our final statement and we need to make a new amendment, we should wait first for the statement to be cleared and then we can submit a new declaration.

The clearance usually becomes immediately if there is no amount of tax to pay, or the result is debt and the submission of the first amending declaration has a tax reduction up to 300 €. However, if the clearance of the first amending statement show a decrease over 300 € then to finalize the statement we should submit the necessary documents to the tax office for review. For the documents required in these cases and for the tax reduction process, many decisions have been issued to date by the Ministry of Finance.

Legislation in Greece has become quite strict with several significant new taxes. This makes the necessary advice of a professional accountant very important in any case with our transactions with the tax office.