Topics

Taxation

AADE: WHEN ARE REAL ESTATE SALES BY AN INDIVIDUAL CONSIDERED A BUSINESS ACTIVITY!

With his circular, the Governor of AADE Giorgos Pitsilis clarifies when, in accordance with the applicable legislation, the sale of real estate by individuals can be considered by the tax authority as a hidden activity, the result of which must be taxed as business profit. Particularly interesting is the provision of par. 4 according to which the scope of the provision in question includes not only the systematic performance of similar transactions but even the individual transaction of sale by a natural person, as long as the purpose is profit, unless this concerns an asset that has been acquired through inheritance or as a gift from relatives up to the second degree or has been held for a period of time longer than five (5) years. 

Articles

THE TERMS OF THE MORTGAGE LOAN PROGRAM FOR YOUNG “MY HOME”!

The “Spiti mou” loan program concerns the granting of low-interest or interest-free mortgages to young people and young couples, aged from twenty-five (25) to thirty-nine (39) years old , for buying a first home. Loans are granted through the cooperating Banks and the application is submitted to a Bank of the borrower’s choice.

Legislation

AADE: THE POSITIVE CHANGES IN TRANSFERS, PARENTS, DONATIONS AND INHERITANCES!

Significant improvements in the tax procedures for property transfers (purchases, sales, donations, parental benefits, inheritances) were implemented based on a new circular of the governor of the Independent Public Revenue Authority (AADE), in accordance with the provisions of Law 5036/2023 and valid from March 28, 2023. With the clarifications and instructions provided for in the new circular, the procedures for notaries are streamlined and taxpayers are facilitated in handling their cases. In particular:

Legislation

AND NEW QUARTERLY EXTENSION OF DECLARATION OF TERMINATION OF LEASES THAT HAVE BEEN TERMINATED UNTIL 31.12.2022!

With his decision numbered A.1044, the Governor of AADE Giorgos Pitsilis gave a new three-month extension for the declaration without penalty of the termination of leases that have been terminated until 31.12.2022.

With another decision, the submission of the real estate data declaration form (E9) for the year 2023 was extended until Wednesday 12/4/ 2023.

The decision on the extension regarding the lease termination declaration is as follows:

Legislation

SECURITIES: SOLUTION TO RETROSPECTIVELY UNINDICABLE SURFACES AND TAPS!

Two more proposals of POMIDA are accepted by the Minister of the Interior Mr. Makis Voridis, with articles of the new draft law of the Ministry of Internal Affairs “Regulations regarding Local Organizations First and second grade municipalities – Regulations regarding the special polling place for the disabled and the right to vote – Provisions for the well-being of companion animals – Provisions for the human resources of the public sector – Other regulations of the Ministry of the Interior” which was placed in public consultation on the Home Office website.

Legislation

MINISTER: YES TO POMIDA’S REQUEST FOR UNILATERAL SETTLEMENT AND AMENDMENT OF HORIZONTAL OWNERSHIP CONSTITUTION!

L. 5037/23.3.2023 was published which satisfied a still firm and persistent request of POMIDA from the political leadership of the Ministry of Foreign Affairs and opens the way for many thousands of “blocked” notarial acts (purchases and parental benefits) throughout the country.

With the provision of article 230 of the law entitled “Renaming the Energy Regulatory Authority etc.” the opportunity is given for both the urban development (subordination) and the amendment of the composition of the horizontal ownership of apartment buildings by the interested co-owners regarding any difference in area between neighboring properties, without requiring the cooperation of the other co-owners of the entire building, which in practice is unfortunately unattainable. 

Taxation

MINISTRY OF FINANCE: TAX MULTIPLE DRAFT WITH 12 FAVORABLE SETTINGS FOR REAL ESTATE!

A new bill was submitted to Parliament by the Ministry of Finance with a number of favorable tax arrangements for real estate transfers, ENFIA certificates, fines for late declarations, inheritances and donations, debt settlements, etc.

Especially with the proposed regulations of bill introduces 12 substantive and procedural amendments to real estate taxation that facilitate the relevant procedures for their transfer, the responsibility of the Ministry of Finance and the AADE /strong>concerning the owners and transactions of real estate which are as follows: 

Legislation

MINISTER: THE “RECYCLE-CHANGE RADIATORS” PROGRAM HAS BEEN ANNOUNCED!

The country’s solar potential is exploited for hot water at a low cost for households, with obvious environmental benefits and added value for the domestic economy and employment.

Posted on Thursday, March 16, 2023, on the website of the Ministry of Environment and Energy (https://ypen.gov.gr/anakyklono-allazo-thermosifona/), the guide to the program “Recycle – Change Water Heaters”, with a total budget of 100 million euros, which come from the NSRF 2014 – 2020, through which multiple objectives are served, since as stated by the Minister of Environment and Energy Kostas Skrekas, “the country’s solar potential is utilized for hot water at no cost with obvious environmental benefits, but also added value for the Greek economy and employment”.

Articles

EUROPEAN PARLIAMENT AND EPBD: CLIMATE NEUTRAL BUILDING SECTOR UNTIL 2050!

From 2028 all new buildings must have zero carbon emissions. -Measures on energy costs and climate change. – Strengthening vulnerable households. – From 2026 public buildings and from 2028 all new buildings will be zero-emission. See the full text of its proposal European Parliament and below UIPI’s announcement.

On Tuesday 14.3.2023 the European Parliament approved measures to increase the rate of renovations with the aim of reducing energy consumption and greenhouse gas emissions.

The proposed revision of the Energy Performance of Buildings Directive (EPBD) aims to significantly reduce greenhouse gas emissions and consumption energy in the EU building sector by 2030 and to make the sector climate neutral by 2050. The aim is also to increase the renovation rate of energy-inefficient buildings, as well as to provide better information on the energy performance of buildings in general.

Legislation

EU DIRECTIVE: PROPERTIES NOT ENERGY UPGRADED ARE UNSOLD AND RENTED!

By Argyris Demertzis from ECOPRESS.GR strong>

Within the week (14.3.2023) the European Parliament’s Plenary will vote on the European Energy Directive (EPBD), based on which countries members will adopt strict measures and the owners are obliged to proceed with the energy upgrading of their properties, as a condition for them to be sold and rented.

For “Armageddon” and major upheavals in the coming years in private real estate, Stratos Paradias, president of the Panhellenic Federation of Property Owners (POMIDA), and the International Union of Property Owners (UIPI) spoke from the top stage of the 6th Prodexpo North, as he said: “member countries will be forced to adopt tough measures for those who do not comply, the main of which will be that they will be prohibited from being rented or sold if they are not upgraded energetically”.