Property: Fines up to 1,000 euros from MIDAS for undeclared leases and concessions

Greece is set to implement a new digital property registry, known as MIDAS (Property Ownership and Management Registry), which will impose significant fines on individuals who fail to declare property leases or concessions, or who provide inaccurate information. The new system aims to create a comprehensive digital file for every property, consolidating ownership, usage, and tax-related data. Fines will range from 100 to 1,000 euros, depending on the nature of the infraction. Specifically, a 500-euro fine will be levied for not updating MIDAS within three months of a lease or concession starting, or within two months of applying for agricultural subsidies where MIDAS declaration is a prerequisite. A harsher 1,000-euro fine is reserved for cases where a tenant or concessionaire submits false information that is then used to obtain undeserved subsidies or grants. A 100-euro fine applies if inaccurate data is submitted but not used for financial aid. The MIDAS system is expected to go live in early July and is designed to serve as a digital safeguard against fraudulent claims for benefits. Furthermore, the new regulations stipulate that property information must first be updated in the E9 tax declaration form before being registered in MIDAS, ensuring that basic property details are accurate. The article also touches upon upcoming changes to the ENFIA property tax calculation starting in 2027, which will incorporate the Electronic Building Identity, aiming to base the tax on the actual building area.

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A 500-euro fine, if a declaration is not submitted to update MIDAS regarding property use in case of lease or free concession, within three months from the start of the lease or concession or within two months from the start of the submission period for the Unified Support Application for agricultural subsidies, where MIDAS update is a necessary condition for the granting of financial aid for agricultural support.