By Chrysostomos Tsoufis

A series of regulations that are expected to give a boost to the real estate market as they facilitate their transfers, is contained in the multi-legislation submitted to Parliament by the Ministry of Finance and to be voted on in the next few days. Between them:

UPDATE Q9 BEFORE THE CONTRACT: Before submitting – digitally or not – the tax return for the transfer, donation, parental benefit or inheritance of a property, the taxpayer must go to the tab of the property in the AADE Property Register to check if all the details of the property being transferred are correct and to make the necessary, if necessary, corrections to E9. The declaration with the updated data must be carried over to the following year. The same obligation has the person who acquires the property provided that he already has some rights on the property.

AUTO COMPLETE E9 AFTER THE CONTRACT: As soon as the notary public posts the transfer contract in the myPROPERTY application, a digitally amended E9 declaration is automatically created and submitted with the required changes to the property details.

ENFIA CERTIFICATE: It is stipulated that in cases of onerous transfer of real estate (i.e. not a purchase but an inheritance, donation or parental benefit) the ENFIA certificate, which must be attached by the notary to the contract, certifies that the property has been included in the ENFIA declaration of the 5 years preceding the transfer but not that the tax has been paid as it was until now.

TAX PAYMENT CERTIFICATE: Also in cases of transfer of property due to compelling reasons, the presentation of the certificate certifying that the inheritance, donation and parental benefits taxes pertaining to the property have been paid is abolished.

PROOF OF AWARENESS: If during the transfer of the property, there are regulated debts of the taxpayer, then the proof of awareness is issued with a deduction of 70% of the price, as long as the price is not less than the objective value up to the amount of the debts.

If there are overdue debts of more than €50,000 then the withholding rate is set at 50%.

WITHHOLDING RATES: Another regulation provides that the withholding rates can be modified and also set withholding rates even in the cases of non-due debts resulting from inheritance tax, parental benefits and donations and from tax and customs control.