Property tax

In the next month the new government will submit an omnibus bill to Parliament including tax breaks and benefits for families, young people, professionals, property owners and businesses.

Over a million property owners will be exempted from paying the Single Property Tax (ENFIA) this year, either because of low income and assets or because they live in areas affected by natural catastrophes.

An analysis of data from the Independent Authority for Public Revenue (AADE) also shows that compared to 2018, there are 171,703 fewer people that will need to pay ENFIA in 2023.

The Single Property Tax (ENFIA) pay slips for over 7 million property and business owners have been posted on the myAADE digital portal for the financial year 2023.

The Independent Authority for Public Revenue (AADE) announced on Friday that it has identified tax evasion in excess of 1 million euros from a short-term real estate rental platform on the island of Mykonos.

Prime Minister Robert Golob and other government officials received representatives of farmers on 3 April in the wake of tractor protests ten days ago. Having obtained assurances that their demands will be heard and that there will be no new taxes, the farmers decided to freeze their protest for three weeks.

Russian nationals were by far the largest group of foreign real estate buyers in Cyprus during the first two months of 2023, according to data by the Department of Lands and Surveys, the department's Director Elikos Elia said during the opening of the 5th Property Show last Friday in Nicosia. Buyers from the UK, Israel, Greece, Lebanon, and Germany followed, Elia said.

More than BGN 14 million in rental income has been received by Bulgarians, real estate owners, who provide short-term accommodation for tourists through Airbnb, the National Revenue Agency (NRA) announced. The data refer to the second half of 2021 and have been submitted to the revenue agency by Airbnb, and the NRA expects information from Booking.com as well.

McDonald's will pay 1.25 billion euros ($1.3 billion) in France to avoid a legal case over tax evasion between 2009 and 2020, under an agreement approved yesterday by a Paris court.    

Residential property sales to foreign buyers rose by 56.5 percent year on year to 4,186 units in January, according to data announced by the Turkish Statistical Institute (TÜİK) on Feb. 18.

Istanbul, Turkey's largest city by population and the commercial hub of the country, took the lion's share of sales to foreign buyers, with 1,771 units.

Over BGN 4 million in income has been declared by owners who provide real estate to accommodate tourists through the Airbnb platform, the National Revenue Agency announced. Income taxation of this activity was introduced in February 2020 - about a month before a state of emergency was declared in Bulgaria due to the pandemic, which effectively put tourism on hold.