Property transaction probe is starting
The first of the two new Capital Taxation Centers (KEFOK), which undertakes to ensure the effective taxation and control of real estate, is to be activated on Monday. Their monitoring is leaving the local tax offices and all orders to them will be given centrally.
In the past, there were many cases of different interpretations, as well as glaring cases of mistakes by tax officials.
Independent Authority for Public Revenue (AADE) Governor Giorgos Pitsilis stated that “with the launch of KEFOK, we are vertically integrating the services of the Capital Departments and creating cores of specialization, which will allow us to offer better services to citizens and businesses. We ensure uniformity in the application of legislation and related procedures, and facilitate centralized guidance and monitoring of our results.”
As the real estate market has boomed in recent years, the tax administration’s moves are aimed at rendering procedures automatic, so that transfers are completed faster, cases suspected of tax evasion are thoroughly scrutinized, and taxpayers and corporations get better served.
According to the plan, KEFOK undertakes the monitoring of tax compliance of taxpayers and their profile, the supervision of the property taxation process, the determination of provisional value for properties for which the objective system does not apply, as well as the carrying out of audits and the imposing of fines on those who forfeit their obligations.
In the foreground are real estate sales, mainly those made with cash, parental benefits, donations, those exempt from the Single Property Tax (ENFIA) and Special Real Estate Tax, as well as notaries, who will be scrutinized for the correct application of the legislation on real estate transfers. At the same time, the employees of the two new agencies will try to zero out all pending real estate tax cases, while also sending to the competent auditing services any cases of taxpayers who do not comply with their obligations.
KEFOK staff will also conduct the verification of the correctness of the content of declarations, as well as the management of the results from cross-checking the data of the declarations, by applying the methods and systems of cross-checking data and risk analysis developed by the competent staff services of AADE.
