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Tax Department

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OBLIGATION TO SUBMIT A IMMOVABLE PROPERTY DECLARATION :
1. All persons who have immovable property in the Republic are obliged to pay tax in respect of that property. Immovable property tax is imposed by virtue of the Immovable Property Tax law of 1980, as ammended. It is imposed on the property held as at 1st January of each year and is calculated using the 1/1/1980 total market value of the immovable property in the Republic. Tax rates are available on our website .

2. In order to enable the above, all persons who held property as at 1.1.1980, must submit
Immovable Property Declaration (Έντυπο Τ.Φ.301) with the computation of the tax of 1980
Details of their Immovable Property as at 1.1.1980 (Έντυπο Τ.Φ.302).

3. Every person who acquies or disposes of immovable proerty is obliged to submit :
An Additional Declaration of Immovable Property (Έντυπο Τ.Φ.303)
Pay the tax regarding that property.

ADDITIONAL TAX :

1. If the estimate of the immovable property in the original declaration is low an additional 10% tax is imposed on the difference between the final tax established and the amount paid according to the original declaration / assessment. Low estimation is considered to occur when the value of the property as you estiamted it is less than 3/4 of the final value established.

INTEREST

Το ετήσιο πληρωτέο ποσοστό τόκου μέχρι και 31 Δεκεμβρίου 2006, ήταν 9%. Από την 1 Ιανουαρίου 2007 το ποσοστό τόκου που ισχύει είναι σύμφωνα με το εκάστοτε εν ισχύει δημόσιο τόκο υπερημερίας
.
1. For the year 1980: If the tax is not paid by 31st May 1981, interest is imposed as from 1st June 1981 to the date of payment.

2. For the Years from 1981 - 2012: If the tax is not paid by by 30th September of the year it relates to then interest will be imposed from 1st October of the year that it relates to untill the date of payment.

3. For Year 2013: If the tax is not paid by the 15th November 2013 then interest will be imposed from 16th November 2013 untill the date of payment.

4. For Year 2014: If the tax is not paid by the 31st December 2014 then interest will be imposed from 1st January 2015 untill the date of payment.

DISCOUNT

From the year 2013 if the tax is paid 30 days before the date from which interest begins a 10% discount is given on the tax.

For 2014 the discount is 15%.

For years 2013 and 2014 the last date for the discount has been extended to 15/11/2013 and 1/12/2014 respectively.


MONETARY PENALTY

From 2013 a monetary penalty of 10% of the tax is imposed if the tax is not paid by the due date or the date stipulated in the notice of assessment.









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