You are reading The end of non-debt of Real Estate Duty (TAP) certificate
The bureaucracy and the dozens of certificates required for real estate transfers make it difficult to buy and sell properties and citizens are not only losing time and money but also they are forced to pay higher taxes.
However, gradually but steadily, the government is making steps towards making the real estate transfers easier, such as the abolition on-debt of Real Estate Duty certificate (ΤΑΠ), electronic inheritance tax returns and the digitization of tax information and debt certification.
The abolition of on-debt of Real Estate Duty (TAP) certificate for real estate transfers, which was announced by Stelios Petsas, Deputy Minister of Finance, at the 39th conference of POMIDA, is characterized a big step by property owners.
At the same time, the Governor of Independent Authority for Public Revenue (AADE), G. Pitsilis, stated that in 2021 the myProperty platform received 105,000 electronic tax returns, donations and parental benefits declarations, and that within the year inheritances and informal donations will also be included in the electronic platform.
As he said in the last 10 days, more than 20,000 real estate transfer tax returns were submitted electronically. In particular and according to the planning of the government and the Independent Authority for Public Revenue (AADE):
– The on-debt of Real Estate Duty (TAP) certificate for the transfers of real estate is abolished. The Real Estate Fee certificate is issued by the municipalities and today more than 4,000 Real Estate Fee certificates are pending. Citizens wait from 1 up to 9 months for the relevant certificate to be issued. The president of POMIDA, Stratos Paradias, stated that the extensive requirement of tax and urban planning certifications makes the real estate transfers more difficult and demanded the abolition of certificates such as the Real Estate Fee.
– Electronic submission of inheritance declarations and informal donations. Citizens will no longer have to visit the tax office for inheritance tax fees for both real estate and movable property. Within 2022 these returns will be submitted electronically through the platform myProperty by the notary’s office. According to the plan, the following will be submitted electronically:
- Declarations concerning any case of imposition of a tax on donation or parental benefit for the acquisition of real estate or movables properties, cash, etc., for which a notarial document is drawn up.
- Overdue or amending declarations.
- Declarations requesting a tax deferral.
- Declarations submitted for the drafting of a donation contract by cause of death as well as for the correction or repetition of a contract.
- Declarations about real estate not included in the real estate objective evaluation system.
- Declarations on movable property of any kind or cash, for which the taxpayer provides insurance or a letter of guarantee from his/her bank, in order to pay the tax in installments.
- Declarations on the amount of money to the beneficiaries of B ‘and C’ category.
- Declarations concerning sums of money to the beneficiaries of A ‘category, when the tax is calculated independently with a rate of 10%.
- Declarations of donation of real estate in execution of a preliminary agreement with self-contract.
- Declarations submitted unilaterally by the recipient.
- Declarations of donation with right of usufruct, which falls to the small owner who has already been subject to tax on small property and acquires the right of usufruct, for which he is subject to tax for the remaining tenths of the value of full ownership.
Also, George Pitsilis announced that the preparation for the interconnection of the Independent Authority for Public Revenue (AADE) database with the Land Registry has begun.
In the meantime, according to some information, the additional unified property ownership tax (ΕΝΦΙΑ) is abolished for both individuals and companies.
Hopefully, these new precautions will have a positive impact on real estate market.
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