Taxation in France

Papoutsanis: Increase in profits and turnover in the first quarter

Papoutsanis pre-tax profits increased by 46% to 1.1 million euros in the first quarter of 2022, while turnover amounted to 14.9 million euros, an increase of 45% compared to the first quarter of 2021. Profits after taxes amounted to 0.8 million euros compared to 0.5 million euros in the corresponding period of 2021, showing an improvement of 40%.

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.

Heavy tax load will come due after the general election

This year's heavy tax obligations for Greek citizens will begin straight after the general election, adding up to more than 14 billion euros in the second half of 2019. Over a quarter of that concerns income tax, as 2.5 million taxpayers will have to pay some 3.5 billion euros, starting from this month.

Despite growth, incomes have kept falling

Taxable incomes are set to decline again this year, resulting in a further drop in takings for the tax authorities.

In the last four years, according to the tax declarations of the country's 6.3 million households, Greece has failed to see confirmation of the rule that economic growth brings higher incomes and therefore greater income tax revenues for the state.

Tax restructure high on Government agenda

In a report from May 2018, the OECD identified that only 14% of total tax revenues in Slovenia comes from income tax (the average in OECD countries being 25%), while it collects 40% from social contributions (the OECD average is 26%). According to their assessment, such a system increases the cost of work and discourages employers from hiring.