On 26 November 2019, the government submitted its second tax bill to Parliament, paving the way for income, corporate and dividends tax to be reduced, giving new democracy some relief from a public sector hirings controversy. On 12 September 2019, the Prime Minister has made an announcement of their confirmation to introduce corporate income tax rate cuts and other planned tax measures. The proposed following changes will be applicable from the year 2020:
Corporate tax
According to plan, corporate tax rate will be reduced from 28% to 24%.
Dividend withholding tax
The bill also proposed dividend withholding tax rate will be reduced from 10% to 5%.
Personal tax
The bill proposed to include a new income tax rate of 9% from 22% for individual having income up to EUR 10,000.
