Greece: New Tax Relief Measures Announced

Greece: New Tax Relief Measures Announced

On Thursday 22 April 2021, the Greek Ministry of Finance announced various new tax relief measures in a bid to help the Greek economy recover from the devastating effects of the coronavirus pandemic.

The new measures were announced by Prime Minister, Kyriakos Mitsotakis, during a teleconference meeting focusing on the restart of the Greek economy.

The Relief Measures

  • From 2021 onwards, mandatory tax pre-payments will be permanently reduced from 100% to 55% for individual taxpayers engaged in business activities in Greece.
  • Mandatory tax pre-payments for 2021 are permanently reduced from 100% to 70% for corporate taxpayers, this will then increase to 80% from 2022.
  • From 2022, the corporate tax rate for taxpayers will be permanently reduced from 24% to 22%.
  • The reduction by three percentage points of the insurance contributions of private sector employees for 2022 is extended.
  • The suspension of the special solidarity contribution in the private sector is extended for 2022.

For more information on coronavirus support measures for employers and employees, visit the activpayroll latest news page.

For more information on the Greek tax and payroll landscape, browse activpayroll’s Global Insight Guide to Greece.