Subsidy

Closed properties: How to make renovation money with…tax-free rent

The Ministry of Finance aims to address the growing housing problem by offering a dual incentive to taxpayers: a subsidy for the renovation of vacant properties and tax-free rental income. The “Renovate – Rent” program provides a subsidy of up to €8,100 for renovation expenses, while the income from the rental remains tax-free for three years.

Let’s see an example:

Toward a new windfall tax?

The government appears determined to reimpose a windfall tax on what it considers excessive profits in the wholesale electricity market, where prices have been rising again, even without the approval of the European Union.

As before, the tax will be used to subsidize households' and businesses' electricity bills.

Nicosia to support the vulnerable

In a bid to ease energy expenses for vulnerable groups and promote sustainable housing solutions, the Cypriot cabinet approved a set of medium-term measures during its meeting on Tuesday, chaired by President Nikos Christodoulides. The measures are designed to support households and young families, with adjustments planned based on budgetary conditions.

Heating allowance increase: Higher amounts for those who choose electricity, with repayment based on temperatures

A new heating subsidy model will apply for 2024/2025, with key changes including a higher subsidy for electricity consumption and an adjustment of the allowance based on updated climate data.

Bulgaria Outpaces France in Agricultural Subsidies for Small Ruminants

Bulgaria has emerged as a frontrunner in the EU regarding agricultural support for the small ruminant sector. This acknowledgment came from the National Sheep and Goat Breeding Association, whose members attended a significant European livestock exhibition in France earlier this month.

Subsidies for growth

The idea that subsidies for businesses and development projects should not be distributed through the current process, but as a tax deductions, could contribute to the transparency and effectiveness of state aid. 

The aid given to businesses from time to time has not paid off as expected and certainly did not reduce Greece's productive deficit. 

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