Former borrowers of the now-defunct Hellenic Post Office Savings Bank (TT) can submit amended tax returns and claim a tax refund for amounts previously credited to their housing loans—intended to accelerate loan repayment. A recent Ministry of Finance law establishes this tax adjustment, aiming to resolve an outstanding issue concerning the taxation of those amounts for the 2013 tax year, with a final deadline of 31 July 2026.
Who qualifies?
The new provision applies to employees and other beneficiaries of the Investment Account for Housing Benefits who received a housing loan from the TT on or before 30 November 2003. The credited amounts are now classified as income from movable assets for 2013, triggering a fresh tax assessment.
Key details
Eligible taxpayers may file amended returns without penalties until 31 July 2026. To proceed, they must obtain an official certificate specifying: the credited amounts, the income category, the year the income was received, and the tax already withheld.
The measure also covers pending court cases—if the taxpayer withdraws the legal appeal—and even cases where final court rulings have already rejected similar claims or applied a different tax treatment. If the revised assessment shows that excess tax was paid or withheld, the difference will be refunded—even if the standard deadline for such claims has expired.