The new Law 5313/2026 of the Ministry of Finance was published in the Government Gazette A 102/June 25, 2026, introducing a significant improvement to the legislative framework of the upcoming Real Estate Ownership and Management Registry (M.I.D.A.), which will be a decisive factor in the widespread participation of taxpayers and its successful completion.
As POMIDA points out, an amendment incorporated as Article 128 explicitly grants taxpayers the opportunity to correct the areas of their properties listed on Form E9, without fines or retroactive charges in cases where the actual property areas declared in the MIDAS system exceed those previously reported.
This provision will significantly benefit not only hundreds of thousands of property owners, who will be able to declare all their assets without the “sword of Damocles” of retroactive charges and fines, but also the government’s tax revenue from 2027 onward, because without this provision, these declarations would not have been made. It will also be possible to reduce charges against property owners who inadvertently reported larger floor areas than the actual ones, when this is evident from the electronic building identification of their property.
The two main provisions of this regulation are as follows:
According to paragraphs 1 and 3 of Article 128 of Law 5313/2026, if the actual area of the property exceeds that stated in the final registration at the land registry office, in the title deed, or in the building permit, or if there has been a change in the property’s use, then the owner is required to report the larger actual area and the actual use of the property to MIDA. For this upward correction of the property’s area, an electronic building ID or any other formal requirement is NOT necessary; it is sufficient to state the larger area, which serves as a sworn declaration by the owner. Declaring the excess area will not result in retroactive ENFIA charges for discrepancies over the past five years, nor will it result in any fines, since, according to the explicit provision of paragraph 5 of Article 128 of the law, ENFIA tax on the resulting difference will begin to be charged to the owner starting in the 2027 fiscal year and thereafter.
It should also be noted that this non-retroactive assessment will not result in a measurable loss of revenue, since it is well known that currently, if a property owner reports an overstated area of their property on the E9 form, the AADE software does not impose a five-year retroactive charge for the difference, unless they request an ENFIA certificate within five years for the transfer of the property.
Similarly, according to paragraphs 1 and 3 of Article 128 of Law 5313/2026, if the actual area of the building is smaller than that stated in the final registration at the land registry office, in the title deed, or in the building permit, then the owner is entitled to declare the actual, smaller area of their property to MIDA. However, for this downward correction, it is essential to issue and rely on an electronic building identification number, so that this correction—which will result in a reduction in government revenue—can be made based on the area derived from it. In this case as well, pursuant to paragraph 5 of this article, the declaration of the smaller area will result in a reduction of the ENFIA starting in the 2027 fiscal year and thereafter, with no retroactive consequences for the taxpayer.
In this case, it is further stipulated that property information declarations submitted in previous years, as well as ENFIA assessment notices and acts issued prior to the new law’s entry into force, shall not be considered inaccurate and no penalties shall be imposed, insofar as they concern a building whose actual area, as evidenced by the electronic building identification number, is smaller than that recorded in the Land Registry, the title deed, or the building permit.
Fivefold increase in the fine is inadmissible
The same amendment provides that if an informational declaration is not submitted to update the M.I.D.A. regarding the use of the property in the event of its lease or free transfer by the end of the third month from the start of the lease or transfer, a fine of 500 euros (five times the current amount of 100 euros!) will be imposed, with the effective date for its imposition set for November 1, 2026, and thereafter, which may be postponed by decision of the Governor of the Independent Authority for Public Revenue (AADE). This fivefold increase in the fine is deemed completely disproportionate and unreasonable, and under no circumstances should it be imposed on taxpayers.
Adequate Deadlines – Notification of Property Owners
Given that the launch of the M.I.D.A. application will coincide with the summer vacation period, annual leave, etc., POMIDA has emphasized to the Ministry’s political leadership and the Director of the Independent Authority for Public Revenue (AADE), Mr. George Pitsilis, the need to establish adequate deadlines for all citizens and their tax advisors. Furthermore, as soon as the system becomes operational, POMIDA will organize an informational seminar for its members, featuring a presentation of the application by relevant AADE officials and answers to all their questions.
POMIDA’s “Seisachtheia” Proposal and Its Background
POMIDA’s proposal and strong appeal were based on the highly successful experience of a similar recent regulation concerning the possibility of declaring undeclared property areas to municipalities nationwide without retroactive charges for municipal fees and property transfer taxes. Indeed, in 2019, POMIDA had submitted the same proposal to the then Minister of the Interior, Mr. Panagiotis Theodorikakos, who accepted it immediately; it was subsequently enacted as a provision of Article 51, paragraph 2, of Law 4647/2019 (Government Gazette 204/A). The results of its implementation exceeded all expectations:
On the four occasions that KEDE’s special platform was opened consecutively between 2020 and 2022, 2,600,000 property owners declared approximately 60,000,000 undeclared square meters of buildings and plots of land, as well as completely undeclared properties, for the subsequent imposition of municipal fees and property transfer taxes (TAP)!!! A solution that was a true “debt relief” for citizens and a lifeline for the regular revenues of our country’s municipalities.
Specifically, the content of this provision was as follows:
“Those required to file a declaration to determine the area and/or use of real estate for the calculation of taxes, fees, and contributions to first-level local authorities may submit a declaration with the correct information by March 31, 2020, without incurring fines for failure to file or for filing an inaccurate declaration. Any differences in the corresponding taxes, fees, and contributions resulting from the declarations referred to in the preceding paragraph shall be calculated and due only as of January 1, 2020.”