The changes to the property tax map are getting flesh and blood starting next week, when the new online platform through which property owners will be given the opportunity to apply for a 10% reduction in the ENFIA as long as they have fully insured their first home against natural disasters.

Also, the automatic completion of the E9 for those proceeding with parental benefits and real estate donations is on track and will soon be implemented. In contrast to all of this, the AADE will give wings and wings to those short-term leases, whose taxpayers are required to start work at the Tax Office (to open books), since they have three or more Airbnb-type residences under their control, but do not they do.

Let’s look in detail at AADE’s planning for the immediate future, as far as real estate is concerned:

1. 10% reduction in ENFIA: Within the next week, AADE will activate a new online platform through which thousands of property owners will be asked to identify the details of their homes insured against natural disasters in order to earn a 10% discount on this year’s ENFIA bill. Taxpayers will find on the platform the details of the active property insurance policies posted by the insurance companies and will have to confirm them, so that when the 2024 ENFIA is settled for the properties in question, a 10% “cut” will be calculated.

The insurance companies have already forwarded to AADE the details of the insurance contracts concerning the following:

  • VAT number and name of the policyholder
  • insurance policy number
  • insurance start and end date
  • insurance risks of earthquake, fire and flood covered by the policy
  • insured capital that covers all three above insurance risks (earthquake, fire and flood)
  • address and description of the insured residence and
  • unique insurance registration number.

In order for the 10% discount to apply to ENFIA for insured homes you must:

  • The insurance should cover the entire value of the property. The value of the property is the reconstruction value of the building or buildings, not counting the value of the plot.
  • The value of the property cannot be less than 1,000 euros per square meter.
  • The insurance must cover the previous year and have a duration of at least three months. If the duration of the insurance is less than one year, the reduction of the ENFIA is adjusted proportionally. This means that for 12-month insurance the ENFIA is reduced by 10%, for 9 months a discount of 7.5% is applied, for 6 months the discount is limited to 5% and for 3 months to 2.5%, while no reduction applies for residences which are insured for a period of less than three months a year.

It is noted that the discount is calculated on the total amount of the main and any “supplementary” tax charged on the insured property.

2. Autocomplete E9: According to the planning of AADE, by the autumn the automatic completion of the E9 through the myProperty platform will have been extended for taxpayers who transfer real estate with a parental allowance or donation. Today the measure only concerns taxpayers who sell and buy real estate with data showing that it applies to 6 out of 10 real estate declarations.

3. New KAD for short-term leases: By decision of the AADE commander Giorgos Pitsilis, a new Activity Number Code (KAD) was created specifically for Short-term Leasing. The code 55.20.11.06 now concerns short-term real estate rental services through digital platforms in the context of the sharing economy. All natural persons who engage in short-term rental business activity are required to start or add activity based on the new KAD. Those who have three or more properties for short-term rental on a digital platform are obliged to start a business. Owners of at least 3 Airbnb-type properties are now considered entrepreneurs with corresponding insurance contributions, business tax and VAT from the first property. According to the AADE data, 7,440 natural persons own three or more properties and correspond to 30,329 properties.

4. Short term leases: Towards the end of next month, AADE is expected to receive from the Airbnb, Booking and VRBO platforms detailed data on the owners and managers of short-term rental properties. These data will be cross-referenced with the data of the AADE Registry in order to identify cases of tax evasion or the provision of additional services other than accommodation and the provision of bed linen. In the event that it is established that properties appearing on the platforms have not been registered in the Short-Term Rental Property Register, a fine is imposed, set per use, at 50% of the gross income of the last tax year and at least 5,000 euros. In case of recurrence for the next use, the above fine will be doubled.