Finance Ministry examines solidarity levy reduction scenarios

The Finance Ministry is considering various alternative scenarios for the upcoming reduction of the solidarity levy. According to a top ministry official, the fiscal leeway to emerge will determine not only the degree of the levy's reduction but also the timing of its implementation.

For example, if the government saves 240 million euros for 2020, this could be used to cut the solidarity levy by 10 percent for 2019 incomes and by the same rate for 2020 incomes.

The final decisions will not be made before May 2020, when the government has a clearer picture of the course of next year's budget - i.e. a few days before the submission and clearance of tax declarations for 2019 incomes.

Although Finance Minister Christos Staikouras has stated that nothing is certain yet, government sources stress that the solidarity levy will definitely be reduced next year; it just...