By Chrysostomos Tsoufis

Registry by registry, platform by platform, AADE is gradually completing the electronic identity of every property in the territory. The latest addition that is in the works is the so-called Registry of Property Ownership and Management through which the tax authority will have a complete picture of the value and use of the property and in it both the details of the owners and the tenants will be “loaded”.

So through the registry n AADE will be able to see at any time:

-If the property is rented or owner-occupied

-The details of the tenant

-The amount of the rent

-If the property has been granted free of charge

It is worth mentioning that all the processes will be done automatically. Whenever an owner declares electronically that they rent their property and at the same time the information of the lease is accepted by the tenant, the register will be updated automatically. And the same will happen in cases of declaration of termination of a lease.

Also, all the information that has been declared in the property register via E9 will also be automatically entered in the register. All taxpayers will need to do is check that the details are correct.

At the same time, this tool will be interconnected with the Land Registry in order to identify any inconsistencies in the descriptive data of the properties as they have been declared.

It will also be linked to the electronic file of tax declarations of natural and legal persons so that the income obtained by the owners from the exploitation of their real estate is pre-filled in the E1 and E2 forms. In the same way, the expenses of the tenants for the rent payments will be pre-filled in the tax declarations, E1, of the tenants.

The benefit for public funds from this double interconnection will be twofold:

Taxable income from real estate as well as presumptions will be automatically calculated but more taxable material will appear as the tax authorities estimate that many taxpayers have declared their real estate in every detail in the land registry to register it, but hide data from the tax office for to pay less ENFIA and not be caught by the presumptions.

There will be a clearer picture regarding properties claimed by the State and private individuals.

Where discrepancies are found, taxpayers will be asked to provide explanations and submit amending returns.

In this case some may be faced with taxes and presumptions from the ….past.