Increasing the non-taxable minimum for parental allowances and donations at 800,000 euros, but also buying and selling real estatemany of which are produced in cash, activate their control mechanism AADE who will look for violations of tax laws.

Under the tax administration’s plan, thousands of transfer, parental, gift, and inheritance cases are expected to be opened, while more than 100 notaries and mortgagees will be screened.

Soaring real estate prices and strong demand from Greek and foreign investors made AADE alert and thus start auditing 2,500 cases immediately.

At the same time, old cases from 2017 concerning real estate transfer which are outside the system of objective determination, while the taxpayers did not accept the preliminary assessment of the tax inspectorate and which expire at the end of the year.

With regard to notaries, auditors will look for problematic cases related to donations and parental benefits after the increase in the non-taxable minimum to 800,000 euros, while ENFIA certificate. In particular, it will be established whether ENFIA has received payment for properties sold in the past five years.

As mentioned above, for 2017 cases expiring on December 31, 2023, the review mechanism focuses on:

1. Tax cases on the transfer of property with a preliminary value of the property. These cases concern immovable property in areas beyond the objective value, the taxpayer did not accept the preliminary assessment – the time value of the PDO and the difference between the declared value and the preliminary assessment exceeds 30% or the value of the preliminary assessment exceeds 100,000 euros. In these cases, the conditions for exemption from transfer tax, the area of ​​the property, as well as the price of the property specified in the contract are checked.

According to the plan, more than 100 notaries and mortgage lenders will be checked.

2. First homework on parental benefits. In these cases, it is checked whether the child is eligible for exemption from parental benefit tax in connection with the first place of residence. The tax authorities will check if:

– The exempt child, spouse, and their minor children are not entitled to full possession or usufruct, or to live in another residence, or to an ideal share of the house that meets the family’s housing needs, or the right to full ownership of the plot a building plot or an ideal shared plot, which corresponds to a built-up area that meets their housing needs, and located in a municipality or community with more than 3,000 inhabitants. It is noted that housing needs are considered satisfied if the total area of ​​the above objects is 70 sq.m., increased by 20 sq.m. for each of the first two children and 25 sq.m. on the third and each of the subsequent children of the beneficiary.

– The property was acquired in full ownership and in its entirety.

– The home or land remained in the child’s ownership for at least five years.

– The application for release was filed with a timely application.

– The child or their spouse or their minor children have not previously been exempt from transfer or parental benefit or inheritance tax.

3. Real estate transfer tax cases for which an exemption has been granted from the principal residence based on the value of the property.