ENFIA stum­bles on farm cal­cu­la­tion

Fi­nance Min­istry still search­ing for a for­mula to value as­sets that will now mat­ter for sup­ple­men­tary tax

Kathimerini English - - Front Page - BY PROKOPIS HATZINIKOLAOU

The process for the Sin­gle Prop­erty Tax (ENFIA) has stalled, as to date the Fi­nance Min­istry has not man­aged to find a way to cal­cu­late the value of farms, which ac­cord­ing to a re­cent law will be added to the as­sets fac­tored in for the sup­ple­men­tary prop­erty tax.

Com­pe­tent min­istry of­fi­cials tell Kathimerini that they have re­ceived cer­tain guidelines to start the sup- ple­men­tary tax cal­cu­la­tion tests, but the for­mula to do so has not yet been found.

The of­fi­cials will first have to es­tab­lish whether the amount emerg­ing from the tests can be seen as re­al­is­tic or is ex­ces­sive, as well as whether ENFIA will bring in the rev­enues agreed with the coun­try’s cred­i­tors, be­fore a ministerial de­ci­sion is is­sued re­gard­ing how the value of the farms will be cal­cu­lated. The tests are set to be­gin next week and the re­sults will be de­liv­ered to the min­is­ter for the fi­nal de­ci­sions to be made.

Prop­erty mar­ket pro­fes­sion­als say that a com­plex process is used in the cur­rent sys­tem for the eval­u­a­tion of land out­side town-plan­ning zones, by cal­cu­lat­ing the ba­sic value of land, its plot value in case a build­ing of at least 15 square me­ters is on it, and the po­ten­tial of its fur­ther uti­liza­tion.

If all that is taken into ac­count, though, the sup­ple­men­tary tax will soar for mil­lions of farm own­ers. The big­gest prob­lem will con­cern farm­ers who use small build­ings out­side town-plan­ning zones in their work. At the same time, any­one who owns even a small piece of farm­land will have to pay a much higher tax than in pre­vi­ous years.

How­ever, min­istry of­fi­cials point out that, in this way, the state will fi­nally be able to im­pose a tax on vil­las on My­conos that are built on plots out­side town-plan­ning zones and which to date have only set their tax­pay­ing own­ers back a hand­ful of euros in prop­erty tax each year.

The sup­ple­men­tary tax con­cerns prop­erty own­ers whose as­sets add up to at least 200,000 euros, down from 300,000 euros in 2015. Its rate ranges from 0.1 per­cent to 1.15 per­cent.

The ENFIA pay­ment slips are now ex­pected to be up­loaded on the in­ter­net by the end of Au­gust, and the first in­stall­ment will be payable by end-Septem­ber. The last of the five in­stall­ments will then be due by end-Jan­uary 2017.

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