Tax incidence

Draft bill provides tax incentives for foreign investments

A reduction in business tax from 28 to 24 percent for 2019 and incentives to link large investments to a reduction in taxable foreign income are some of several incentives for investments are some of the measures the government is seeking to introduce in a new draft bill that was presented for public consultation late on Thursday.

Tax breaks coming in 2020

Salaried workers, pensioners and self-employed professionals will see significant reductions in their tax bills in 2020, according to a draft law that reduces the lowest income tax bracket to 9 percent from 22 percent for incomes up 10,000 euros, maintains the income tax-free ceiling at 8,636 euros per year and offers deductions for families with children.

No tax cuts without plan

Having hit the ground running, Greece's conservative administration is eager to show that it is already working to cut tax rates - which was one of its main campaign pledges.

Nevertheless, there are signs that certain government officials themselves are nourishing - and cultivating among the public - excessive expectations.

Supplementary property tax threshold likely to be raised

The adjustment of the property prices used for tax purposes (known as "objective values") and the creditors' strong opposition to government plans to shift the tax burden from owners of small properties to those with large properties is opening the door to a reduction of the burden on those with assets worth over 200,000 euros.

Creditors block gov't plan to hike the supplementary property tax

Greece's creditors have blocked the government's plans to increase the tax load on owners of medium-sized and large property. According to sources, the government had intended to shift the new burden resulting from the adjustment of the taxable property rates to 500,000 owners with assets adding up to over 200,000 euros.

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