Economy · Greece
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AI-synthesised from 5 sources · no editorial bias
A new legislative framework regarding real estate management is being implemented in Greece through the establishment of the Property Ownership and Management Register (MIDA). This framework includes significant penalties for property owners and users who fail to declare accurate data regarding their real estate assets. Fines can reach up to €1,000 for omissions or incorrect information submitted to the register.
In addition to fines, the MIDA is linked to the E9 tax declaration form, which will require property owners to report their real estate holdings more transparently. Additionally, the new regulations are set to tighten control over property dimensions, ensuring that the calculated sizes align with those reported to tax authorities. Property tax (ENFIA) will also be recalibrated based on actual property dimensions, potentially affecting tax liabilities for many property owners.
The goal of these changes appears to be a comprehensive effort by Greek authorities to increase compliance and transparency in property ownership, enhance tax efficiency, and eliminate loopholes that have previously allowed for discrepancies in property reporting.
27 June
Further enforcement of fines for omissions in property ownership data was announced.
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