Greece releases its 2015 budget on October 6, 2014. The budget reduces the solidarity tax on earners and a 30 percent cut on the tax on heating oil. The budget cut the “solidarity tax” paid by those on incomes over EUR12,000 (USD15,178) and would reduce social security contributions to support employment levels.
The special tax on heating oil that was introduced in 2012 will be reduced by 30 percent. Other measures include the reversal of wage cuts for public sector workers. Greece’s Prime Minister, Antonis Samaras also said that there would be a reduction to the top rate of personal income tax from 42 percent to 32 percent; a 10 percent cut to corporation tax, down to 15 percent; and also value-added tax (VAT) and property tax cuts.
