In the MOU co-signed by the Deputy Minister of National Economy and Finance, Haris Theocharis, and the head of AADE, Giorgos Pitsilis, it is clarified once once more that the condition in question of residential insurance for natural persons, in connection with the discount to ENFIA, as established by the government, concerns insurance policies once morest natural disasters (earthquake, fire and flood) for the year 2024.
Based on the same decision, it is foreseen that the taxpayers’ applications for the grant of a reduction of the ENFIA in insured houses and their amendments and corrections shall be submitted no later than 1/3/2024.
It is also foreseen that the confirmation of the data by the insurance companies takes place no later than 19/3/2024.
The Deputy Minister of National Economy and Finance, Haris Theocharis, justifying the extension, he emphasized that “the connection of home insurance with discounts in ENFIA, is an innovation of the Government, a measure that is being implemented for the first time. The Ministry of Finance recognizes that submitting, amending or correcting applications, as well as confirming the details of insured homes, is a complex process, especially when there is no previous experience. Therefore, we deemed it necessary to extend the initial deadlines for the submission of the relevant declarations by the beneficiaries, now until March 1, 2024
According to the latest data available from AADE, until yesterday, 344,000 applications had been submitted to the myPROPERTY platform. Of these applications, while approximately 261,000 applications have been approved as the property identification number (ATAK) was identified with the insurance policy, 19,098 statements are pending for individual corrections and additions. For the approved declarations, the owners of the specific properties (ATAK) will see in the ENFIA statement that the tax is reduced by up to 10% compared to last year. Those declarations that need minor corrections will be made by the tax administration and then, if there is no reason for rejection, they will receive the green light so that they too can benefit from the discount on the basic real estate tax.
Based on the official statistics of the declarations, four out of ten were “cut” from the discount of up to 10% in ENFIAas the residence was either not insured for earthquake, fire and flood or the insured value was less than 900 euros per sq.m.
Based on the law, if the duration of the insurance is less than one year, the reduction of the ENFIA is adjusted proportionally. Thus, for insurance lasting 12 months, the tax is reduced by 10%, for 9 months the discount is 7.5%, for six months it is limited to 5% and for three months to 2.5%, while no reduction applies to homes insured for a shorter period of three months a year.
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