Created for landlords and tenants "big Brother"

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Greece’s independent tax authority AADE is starting a new registration of all properties in the country, creating a new electronic file with detailed data on properties owned by more than 7 million taxpayers.

We are talking about the “Register of Ownership and Management of Real Estate,” which will include complete information about the property, for example, whether it is leased or for free use, the amount of monthly and annual rent, and tenant data.

The Property Management Register (PMR) will include:

• Electronic “asset registry” data is created through E9 returns of individuals and businesses, which will be transmitted without taxpayer intervention. Property owners will check and, if any discrepancies are found, correct them.
• Rental property data obtained from AADE’s online rental property platform and tax return Form E2.

The updated AADE action plan calls for the new electronic application to be ready in September 2024, and the tax enforcement engine will use artificial intelligence to cross-check and identify taxpayers who are hiding properties, declaring less area in E9 or owning arbitrary buildings to avoid paying taxes and fees (ENFIA, income tax, council taxes, TAP, etc.). Violators will face retroactive taxes and fines and their details will also be forwarded to planning authorities so that they can impose appropriate penalties as prescribed by law in case of unauthorized construction.

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With the new electronic file, AADE will be able to directly cross-check properties reported as leased and rent amounts collected and reported by owners and tenants. The property ownership and management register will be automatically updated every time the owner of the property submits a rental declaration and accepts it from the tenant of the same property, as well as each time the landlord declares the lease of the property to be terminated.

The registry will be linked to the electronic file of personal and corporate income tax returns so that the income received by owners from operating the property is pre-populated by AADE on Forms E1 and E2 of their tax returns, and tenants’ rental expenses are also pre-populated on Form E1.

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