Payments

The government is considering a 30% increase in the Single Property Tax (ENFIA) on real estate owned by banks as part of the measures it is working on for the credit sector.

The state is planning to spend almost 1 billion euros on subsidy and interest-free financing programs for property upgrades as of early 2025.

The deadline for paying the 2025 traffic fees expires at the end of the end of the month, with the amount of money paid depending on the cubic capacity of the vehicle.

The only change compared to last year is the fines, as a new regime will apply to those who pay late.

In recent weeks, there has been ongoing concern regarding the state's expenses for next year, with projections showing that costs far exceed available funds. As a result, savings are being emphasized. However, municipalities have raised concerns about how these cuts might impact their investment programs, questioning whether they will still receive subsidies from the state budget.

Small and medium-sized enterprises (SMEs) will receive retroactive subsidies, with tax exemptions also under consideration.

The Ministry of Environment and Energy plans to extend electricity subsidies for households for at least the next three months. Businesses, particularly those excluded from the summer subsidies, will also receive support.

The government is set to implement a €100 million subsidy package to shield households and businesses from soaring wholesale electricity prices.

The plan includes direct subsidies and tax breaks for consumers, combined with a temporary tax on electricity producers' profits. 

The Ministry of Finance aims to address the growing housing problem by offering a dual incentive to taxpayers: a subsidy for the renovation of vacant properties and tax-free rental income. The “Renovate – Rent” program provides a subsidy of up to €8,100 for renovation expenses, while the income from the rental remains tax-free for three years.

Let’s see an example:

Payment notices for the 2025 Vehicle Circulation Fees have been posted on the digital platforms of the Independent Authority for Public Revenue (AADE).

Vehicle owners who need to settle their circulation fees by December 31, 2024, can view their payment codes through the myAADE portal (myaade.gov.gr):

Turkey will raise various taxes, fees, and fines by over 40 percent in 2025, reports Hurriyet. This significant hike aligns with a revaluation rate tied to the consumer price index, which shows a 43.93% increase as of October.

In a bid to ease energy expenses for vulnerable groups and promote sustainable housing solutions, the Cypriot cabinet approved a set of medium-term measures during its meeting on Tuesday, chaired by President Nikos Christodoulides. The measures are designed to support households and young families, with adjustments planned based on budgetary conditions.