The Prime Minister, Alexis Tsipras, announced on September 8, 2018, plans for tax cuts and pledged spending to heal years of painful strictness, less than a month after Greece emerged from a bailout program financed by its European Union partners and the International Monetary Fund (IMF).
He promised a gradual reduction in corporate tax rate from 29% to 25%, starting from next year, and an average 30% reduction in a deeply unpopular annual property tax on homeowners, rising to a 50% reduction for low-income families.
Again, as of 2021, the standard VAT rate will be 22% from 24% and reduced VAT rate will be changed from 13% to 12%.
From January 1, 2019, a reduction will be applicable of the social security contributions will be applicable for freelancers with income more than EUR 7,000.
