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Tax Authority Imposes Stricter Compliance Measures for Property Transfers

by THEFUTURE.TEAM

November 28, 2025

Under Strict Terms, Mandatory Tax Compliance Is Now a Prerequisite for Property Sales

The Tax Authority has announced that property transfers will be halted if either party remains noncompliant with their filing obligations or outstanding tax liabilities. This new measure, embedded in the legislative package of tax reform, is currently under review by the Parliamentary Finance Committee.

Legislative Framework and Strategic Adjustments

The reform package includes provisions under the Capital Gains Tax bill that empower the Tax Authority to withhold the transfer of real estate when either the seller or the buyer fails to meet their tax obligations, with the exception of disposal transactions. Officials, including Tax Official Sotiris Markidis, have indicated that the implementation will incorporate legal safeguards and transitional measures to ensure clarity and smooth adoption of the law.

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Enhancing Fiscal Discipline and Market Stability

This regulation is poised to reinforce the discipline of the Tax Department over time by embedding a culture of fiscal compliance. By linking property transfers to tax conformity, the policy compels taxpayers to regularly submit income declarations and settle their dues, whether voluntarily or out of necessity.

Mitigating Market Disruptions With Phased Implementation

While market disruption in the real estate sector is anticipated upon the initial activation of this provision, the Tax Authority is preparing contextual safeguards. A tailored formula, soon to be presented to the Finance Committee, aims to balance enforcement with protection for buyers. The formula details exceptions for cases such as taxpayers engaged in legal disputes over tax arrears or those participating in agreed instalment plans. In these cases, outstanding liabilities may be temporarily regarded as settled until further legal review.

One-Year Grace Period for Taxpayers

Additionally, a one-year grace period has been introduced, allowing taxpayers to reconcile their tax obligations before these restrictions take full effect. Under this provision, the law’s enforcement on property transfer will be deferred until January 1, 2027, rather than the originally proposed 2026. During 2026, taxpayers will have the opportunity to file overdue returns and clear any tax arrears.

Rolling Out a Gradual Enforcement Timeline

For transactions exceeding €100,000, the phased implementation is designed to provide clarity and protect stakeholders:

From January 1, 2027, the Tax Authority may block transfers for tax arrears exceeding €1 million.
Starting January 1, 2028, the threshold will be reduced to €500,000.
Effective January 1, 2029, transfers can be halted for arrears up to €200,000.
From January 1, 2030, the limit will be set at €50,000.
Beginning January 1, 2031, the cap will be lowered to €10,000.

It is important to note that for primary residences with tax liabilities up to €500,000, these restrictions will not apply, ensuring continued access to essential housing.

Conclusion

The Tax Authority’s new measures signal a pivotal shift towards stricter fiscal compliance and refined market regulations. By ensuring that all property transactions are underpinned by robust tax compliance, the government aims to foster a disciplined tax culture while mitigating abrupt disruptions in the real estate market.

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Google Cloud Outage Disrupts Banking And Digital Services Across The UK

by THEFUTURE.TEAM

October 20, 2026

A power outage at a Google Cloud data centre near London disrupted services across the UK on Tuesday, affecting banks, businesses and other digital platforms. Google said the incident was caused by a power event at its cloud operations, with full recovery expected by around 1300 GMT.

The disruption began at 0608 GMT and affected Google Cloud services in the europe-west2 region, which is hosted in London. In an initial update, the company reported elevated error rates and intermittent network failures across multiple services as engineers worked to restore operations.

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Banking Services Hit By The Disruption

Revolut was among the most visibly affected companies, with customers reporting problems with ATM withdrawals, bank transfers and card top-ups. A source close to the matter linked the issues to the Google Cloud outage.

Traditional banks also reported disruptions. Lloyds said some customers were experiencing problems with its app and online banking, while HSBC confirmed difficulties accessing its services. HSBC added that it was monitoring the situation and noted that other organisations were affected as well.

Disruption Spreads Beyond Finance

Downdetector, which tracks online service disruptions, recorded hundreds of reports involving other businesses, including property website Rightmove and the Royal Mail postal service. The reports suggested that the outage was affecting multiple parts of the UK’s digital economy.

The incident highlights the risks facing businesses that depend on shared cloud infrastructure. Even a temporary failure at a single provider can disrupt services across several sectors, from banking and payments to logistics and consumer platforms.

Companies Reassure Customers

Revolut said it had been working to resolve the issue since it was identified and apologised to affected customers. The company also confirmed that customers’ money and data remained safe.

As cloud platforms underpin an increasing share of digital commerce, the outage illustrates how disruptions to critical infrastructure can spread far beyond the provider itself, affecting businesses and customers across the economy.