On 27 October 2017, according to a press release, on the proposal of the Minister of Finance, the government approved the corporate tax reform. The corporate tax reform process would take place in two phases, 2018 and 2020.
Under the tax reform, the rate of corporate income tax for “large companies” would be 29% as from income year 2018 (assessment year 2019) and 25% as from income year 2020 (assessment year 2021).
For SMEs, a heavily reduced rate of 20% will apply to the taxable base up to 100,000 Euros from next year (2018). The crisis contribution would be reduced to 2% as of 2018 and 0% as of 2020 (currently at 3%).
