Midas: Sky-high fines for property declarations

The new Property Ownership and Management Registry (MIDA) brings sweeping changes and strict penalties for landlords and tenants. The Ministry of Finance aims for complete control over real estate and the “blocking” of any illegal benefit collections.

What is MIDA and why is it being established? The Property Ownership and Management Registry (MIDA) is the Tax Administration’s new digital platform for recording the actual use of every property. Through this, the state gains a clear picture, putting a definitive end to the illegal collection of benefits, such as the rent allowance.

What are the fines for late or inaccurate declarations? The penalties are strict and apply to both lessors and lessees:

• 500-euro fine: Imposed on owners who do not declare the use (leasing or free concession) within 3 months of its commencement.
• 1,000-euro fine: Applies to tenants who submit inaccurate details for the purpose of illegally receiving state aid. 💰
• 100-euro fine: Imposed for incorrect declarations that are not, however, linked to financial gain.

What is the necessary step before declaring on MIDA? Prior to any action on the new platform, updating the property details in the E9 form is mandatory. If the property profile is not correct and updated, the declaration of use cannot proceed.

How does the ENFIA calculation change starting from 2027? From 2027 onwards, ENFIA will be calculated based on the actual area of the property, as reflected in the Electronic Building ID. In fact, if the actual area turns out to be smaller than that in the Land Registry (Ktimatologio) or the contracts, the tax will be reduced accordingly, without the imposition of fines for the past. 💡