Logo
Print this page

Abolition of tax breaks, linked with scrapped austerity measure, affect one mln Greek taxpayers

Featured Abolition of tax breaks, linked with scrapped austerity measure, affect one mln Greek taxpayers

Nearly one million self-employed professionals, craftsmen and owners of SMEs in Greece are on the "downside" of a decision, by the outgoing Tsipras government, to abolish a pre-legislated reduction in the annual tax-free income threshold, which was set to come on line on Jan. 1, 2020.

The reason is that while the looming austerity measure was abolished - without creditors' consent - a series of tax breaks billed as positive countervailing measures linked to the former were also ditched.

The tax breaks that fell by the wayside included a reduction in the lowest income tax rate, from 22 to 20 percent, as well as abolition of a special "solidarity tax" imposed on gross incomes of up to 30,000 annually, along with a significant reduction on incomes of between 30,000 and 65,000 euros.

© 2012 - 2019 NewGreekTV.com

Website Design