Unpaid Immovable Property Tax from 32 developers

ALTHOUGH the vast majority of property owners paid their Immovable Property Tax (IPT) before the 15th November deadline, thereby enabling the government to achieve its property taxation revenue target agreed with the troika, a number did not.

Yesterday the Inland Revenue Department presented a list to parliament containing the names and details of individuals and companies who failed to pay by the due date and who owe more than €100,000 Immovable Property Tax.

The list contained a number of property development companies, many of whom had strongly protested against the tax because of bureaucratic delays resulting in an unacceptable delay in issuing Title Deeds.

The Greek language newspaper ‘Politis’ named and shamed these property developers on this morning’s front page  together with the tax they owed at 30th November plus the interest charged plus the 10% penalty for delay imposed by the Inland Revenue.

From what I can gather from the report, the Inland Revenue plans to seek judgements against these developers in the courts. If successful, they will be able to place ‘memos’ corresponding to the debts against property registered in their names. This will (of course) further delay the issue of Title Deeds to properties’ rightful owners.