kathimerini.gr
Greece Launches Real Estate Registry to Combat Tax Evasion
Greece's Independent Public Revenue Authority is launching a Real Estate Ownership Registry in late July to combat tax evasion on property income and improve housing policy, using data from the National Land Registry and other sources to create comprehensive property profiles and address undeclared assets.
- How will the registry address the current housing crisis in Greece?
- The registry's two-phase rollout begins in late July, starting with data cross-referencing between the APA's existing records and the National Land Registry. A second phase, starting later this year, will require property owners and renters to declare property usage. This dual approach aims to improve tax compliance by identifying undeclared properties and rental income, leading to more accurate tax assessments and potentially reduced tax evasion.
- What immediate impact will the new Real Estate Ownership Registry have on tax collection in Greece?
- Greece is launching a new Real Estate Ownership Registry to combat tax evasion and improve housing policy. The registry, linked to the National Land Registry, will contain data on over 7.5 million properties, including ownership, usage, and technical details, enabling cross-referencing with agencies like the Public Revenue Authority (APA) and power companies. This comprehensive data will support fairer housing policies and address the current housing crisis.
- What are the potential long-term consequences of this initiative on the Greek real estate market and tax revenue?
- The initiative will likely lead to increased tax revenue and a more accurate picture of the Greek real estate market. However, the success hinges on effective enforcement. Penalties for undeclared properties will be significant, encouraging compliance. Future policy adjustments, such as modifying the tax rates on rental income, could further refine the system and incentivize accurate reporting.
Cognitive Concepts
Framing Bias
The framing emphasizes the positive aspects of the new property registry, highlighting its potential to curb tax evasion and improve tax collection. The headline (if any) would likely focus on this positive impact. While mentioning challenges, the overall tone and structure present the initiative as a solution to a significant problem. The inclusion of the Minister's quote further reinforces this positive framing.
Language Bias
The article uses strong, positive language to describe the government's initiative ("major step," "significant," "effective"). However, it also uses relatively neutral language when describing the potential downsides. The use of terms like "τσουχτερά" (stinging/severe) to describe fines is more subjective, and a less emotionally charged alternative could be used, such as 'substantial'.
Bias by Omission
The article focuses primarily on the government's perspective and the benefits of the new property registry for combating tax evasion. It does not offer perspectives from real estate agents, landlords, or tenants who may be significantly impacted by the new regulations. While acknowledging limitations of space, the omission of these viewpoints limits the understanding of potential consequences and challenges associated with the new system.
False Dichotomy
The article presents a somewhat simplistic dichotomy between accurate tax reporting and tax evasion. It doesn't fully explore the complexities of the real estate market, such as the prevalence of informal rental agreements or the challenges faced by individuals with low incomes in meeting reporting requirements. The portrayal implies that the new system will easily solve the problem of tax evasion, which may be an oversimplification.
Sustainable Development Goals
The new Real Estate Ownership Registry aims to reduce tax evasion on real estate income, which disproportionately affects lower-income individuals and contributes to wealth inequality. By improving tax collection and ensuring fair contribution to public resources, the initiative fosters a more equitable distribution of wealth and resources. The improved data will also contribute to fairer housing policies.