ENFIA reduction still open

The government's pledge for a further reduction of the Single Property Tax (ENFIA) by 8% this year could still be implemented, according to Finance Minister Christos Staikouras, provided the pandemic subsides.

Speaking on Parapolitika FM radio on Tuesday, Staikouras referred to the process of adjusting the property rates used for tax purposes (known as "objective values") that should have been completed in 2020 but was postponed until summer 2021 as a result of the pandemic.

In the context of this adjustment, the minister said there may be hikes "where necessary" to create the fiscal space that will allow for the 8% average cut the government has promised.

He stopped short of suggesting a time frame for that. Ministry sources say they think this would be difficult to accomplish this year, viewing 2022 as more likely. The same sources believe that the fiscal...