On 12 September 2019, the Prime Minister has made an announcement of their confirmation to introduce tax rate cuts and other planned tax measures at the opening of the annual International Trade Fair of Thessaloniki. According to plan, corporate tax rate will be reduced from 28% to 24%; dividend withholding tax rate will be reduced from 10% to 5%. This also includes a new income tax rate of 9% from 22% for individual having income up to EUR 10,000. The president said that the government would gradually reduce social security contributions by 5% point up to 2023 for those in full-time employment. As part of the incentives to boost the property sector, he promised to scrap value added tax (VAT) on new construction for three years and capital gains tax on property sales. These changes are to be presented in Greek parliament in October 2019 and will be applicable as of 2020.
«
Uruguay ratifies BEPS multilateral instrument
Related Posts
Greece announces new tax rules for venture capital mutual funds (AKES funds)
Greece’s Law 5162/2024 introduces amendments to the taxation framework for venture capital mutual funds governed by Law 2992/2002, known as AKES funds. New tax rules for venture capital mutual funds (AKES funds) AKES funds established on 1
Read MoreGreece enacts participation exemption for intra-group dividends, capital gains
The Greece Ministry of Finance has enacted legislation Bill 5162/2024 on 5 December 2024 which introduces a participation exemption regime for intra-group dividends and capital gains received by Greek tax-resident legal entities from non-EU
Read MoreGreece enacts 2025 tax reform measures
Greece has published Law No. 5162 in the Official Gazette on 5 December 2024 enacting 2025 tax reform measures. The legislation eliminates the business (trade) tax for all individuals and extends the suspension of capital gains tax on the
Read MoreEuropean Commission applauds Greece’s pledge to align tonnage tax with state aid rules
The European Commission in a release on 25 November 2024 announced that the acceptance by Greece of the appropriate measures proposed by the Commission to bring the existing Greek tonnage tax scheme and related measures in line with State aid
Read MoreGreece consults tax exemptions for non-EU intra-group dividends, capital gains
The Greek Ministry of Finance (MoF) has initiated a public consultation regarding the introduction of a participation exemption for intra-group dividends and capital gains derived from non-EU entities. This proposed measure aims to enhance the
Read MoreGreece unveils tax reform plans for 2025
Greece's Ministry of National Economy and Finance has announced new legislation for tax reform measures for 2025 on 5 November 2024. The bill, entitled "Measures to enhance income, tax incentives for innovation and business transformations and
Read More