On 14 December 2018, the Greek parliament approved the gradual reduction of the corporate income tax (CIT) rate over the next four years, under proposals announced in September. The property tax will be reduced by 30% to 50%.
Under the changes, the corporate tax will be reduced from 29% to 28% in 2019. Further, the rates would be as follows: 27% for income earned in 2020;
26% for income earned in 2021; and 25% for income earned as from 2022.
However, credit institutions will continue to pay corporate tax at the existing 29% rate.
The government also approved a planned reduction in the withholding tax rate on dividends from 15% to 10%. The reduction will apply from 2020.
