Tax Service: 33 properties put up for auction

Greek tax authorities are continuing to conduct electronic auctions for the sale of 33 properties associated with large debts to the state ahead of the end of the year.

In a bid to slow down the rapid rise in unpaid taxes and at the same time send a clear message to defaulters, the tax administration is taking stringent measures under the Government Revenue Code (KEDE) by providing advance notice to debtors through individual notices.

EFKA: debts will increase by 2 billion by 2024
As of October 16, 3,829,531 accounts were opened with the Tax Inspectorate, belonging to both individuals and legal entities. Of these, 1,536,443 taxpayers, or 72.33%, have already been subject to enforcement actions, including bank seizures and property auctions, and 2,124,324 are at risk of such actions. The total volume of “payments” to the state exceeded 107 billion euros, of which the actual debt is estimated at approximately 81 billion euros.

List of new auctions
On Wednesday, October 16, the new auction season begins, which includes all types of real estate: from maisonettes and land plots to industrial properties, warehouses and car parks. First offer prices vary depending on the type, size and area of ​​the property, from €2,000 to €5.6 million.

Properties up for auction
Among the properties planned for sale in the October-December quarter, the following stand out:

• Building plot with an area of ​​780.9 m², including two underground parking lots with 23 spaces, located in Nea Ionia. The first offer price is 3,975,000 euros. The auction will take place on November 20.
• A plot of land with an industrial facility with an area of ​​25.4 acres in the prefecture of Viotia. The first offer price is 5.6 million euros. The auction is scheduled for October 23.
• Plot of 1.2 acres in Castries with a house of 374.20 sq.m. The first offer price is 1.43 million euros. The auction is scheduled for October 23, 2024.
• Maisonette in Nea Eritrea with an area of ​​800 sq.m., which will be put up for auction on October 23 with a first bid price of 780,000 euros.
• Plot with a residential building in the Kalogresa refugee settlement, consisting of two floors with an area of ​​119.27 sq.m. each and 209 sq.m. basement. The first offer price is 570,000 euros. The auction will take place on November 20.

The current legislative regime for the collection of overdue debts
As part of the regime for collecting overdue debts that are not subject to settlement, the following measures are applied:

• Seizure of movable property in the hands of the debtor, or movable property and receivables in general of the debtor in the hands of a third party.
• Seizure of real estate.
• Administrative, insurance and judicial measures may be applied to state debtors.

Notification of debt
Before applying enforcement measures, the tax administration is obliged to notify the debtor of the need to pay the debt through an individual notification. The exception is the seizure of monetary claims in the hands of the taxpayer or a third party. From the date of delivery to the debtor of a copy of the arrest act, he is deprived of the right to freely dispose of property.

If the debtor has not included his debt in the settlement plan, after forty days and no later than four months from the date of seizure, the auction date is set no later than five months from the date of issuance of the plan. However, if the debtor enrolls in a debt settlement program, the auction may be cancelled.

Deposits with credit institutions
As for deposits in credit institutions held in one individual or joint account, then they are not subject to seizure if the amount does not exceed 1250 euros per month for each individual and in one credit institution. The measure applies in the case of filing an electronic declaration in the information system of the tax administration, where an individual discloses deposit data. If there is a periodic credit account for the payment of wages, pensions and insurance payments, then only this account is disclosed.

According to the law, the tax inspectorate cannot begin to confiscate items and property necessary to meet the basic living needs of the debtor and his family.

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