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Exemption from the 0.4% fee on the sale of real estate for the purpose of paying off the National Income Tax

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The relevant law proposal was submitted by the MP of DIPA – Cooperation Alekos Tryfonidis

Απαλλαγor απo το τeλος 0.4% επ πoλησης ακινorτων για σκοποyς εξo&phi ;λησης ΜΕΔ

The Plenary of the Parliament unanimously passed a law that exempts from the payment of the 0.4% fee for the purposes of the Central Agency for the Equal Distribution of Burdens, persons who sold real estate or transferred shares for the purpose of paying off a Non-Performing Loan.

The relevant a proposal for a law was submitted by the member of parliament of DIPA – Cooperation Alekos Tryfonidis.

Specifically, according to the law that was passed, the borrower is retroactively exempted from paying the fee, when the proceeds of the sale of real estate or the transfer of shares are used to pay part or to pay off a non-performing loan in the context of the restructuring.

There is also a commitment from the Tax Department that the fees already paid during the period between February 22, 2021 and November 17, 2022 will be refunded to the persons who have already paid them during the period in question, since the price from these sales has been used to reduce or paying off their non-performing loans.

The MP Alekos Tryfonidis said that this legislation fills a gap that existed in the law and helps 3000 borrowers who provided their property for restructuring purposes.

AKEL MP Nikos Kettiros said that in cases of restructuring they are exempted from a burden which, however, is great for them. However, as he said, this tax is 400 euros for the sale of a property of 100,000 euros and some, even millionaires, took the opportunity and exerted pressure so that everyone would be exempted from this tax from February 2021 until November 2023.

< p>The MP of the Environmentalist Movement – Cooperation Stavros Papadouris said that although the amounts are small, when tax relief is given by the Land Registry and after some years 30,000 letters are sent and they are told that they owe, this is a wrong procedure.

The individual socialist MP Kostis Efstathiou congratulated Mr. Tryfonidis and gave credit to the Refugee Committee for ending a backlog for which, as he said, Parliament is not responsible, but the delay of the executive power in implementing the law.

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Source: www.kathimerini.com.cy

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