Bill eases corporate tax burden

The new tax bill submitted for public consultation on Thursday contains some very favorable provisions for corporations, which will see their taxes slashed by about 30 percent next year.

The reduction of their income tax rate from 28 to 24 percent, the decrease of the tax deposit from 100 to 95 percent and the halving of the dividend tax from 10 to 5 percent will lead to a significant drop in dues, which combined with other measures in the bill should contribute considerably toward accelerating Greece's growth rate.

The reduction of the tax deposit to 95 percent may be a one-off measure for 2020 alone, but the government has already announced that if the fiscal space exceeds expectations next year, it will be used for the reduction of the levy to practice a profession or for the reduction of the tax deposit.

For this year a corporation with annual profits of...

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