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Those property owners who received a 40% reduced rent due to the pandemic will have a 30% tax deduction. An amendment was submitted to the Parliament for a vote, according to which it is foreseen that those owners who lost 40% of their rent by the order of the state, will receive a tax deduction, equal to 20% of the 60% of the rent they received.

To make it clearer, a landlord received a rent of 1000 euros. With the 40% discount, he finally received 600 euros. So he lost 400 euros. Based on the provision, the state will provide him with a tax deduction of 120 euros or 20% on tax liabilities that will be created from 31/7/2020 onwards. This amount will be offset against amounts or installments of income tax, ENFIA, etc. The procedure to be followed will be determined by a relevant ministerial decision.

In addition, landlords will be exempt from paying tax and solidarity contribution in 2021 for the amount of rent they did not receive this year.

In the same amendment, the suspension of payment or the 25% tax deduction for the timely repayment of debts or adjustment installments for the months of March and April is validated. There is also an extension until the end of September for the payment of May taxes and until the end of October for the June taxes for landlords who continue to receive reduced rents.

With regard to the beneficiaries of the rent deduction, the amendment provides for the extension of the reduction of the rent for professional leases to the rents of the main residence of the employees or their children who study away from home until June. Seafarers' rents are also entitled to a rent deduction.

SOURCE: Naftemporiki.gr