Petsas announces up to 40 pct tax reduction for property upgrade

Citizens that will upgrade their residents will have a tax reduction up to 40 percent, government spokesman Stelios Petsas said on Sunday in an interview with SKAI.

He also explained that this could be offset with any other financial obligation of the citizen to the state, such as the payment of the Uniform Real Estate Ownership Tax (ENFIA).

According to Petsas, "the government's main plan is to provide a reduction of taxes up to 4,000 euros to anyone who makes expenses of 10,000 euros to upgrade his property."

In any case, he stressed that "if necessary, the budgetary burden should also be taken into account."

As the government spokesman explained, the aim of the government is to support the construction sector which was significantly affected during the crisis.