Lawmakers in Greece have approved measures to ease taxes nearly a year after the country ended its final rescue program.
Members of parliament from the New Democracy party as well as the main opposition parties supported the measures on Tuesday.
The moves slash annual property taxes by roughly 20% and improve the terms of a repayment program for delinquent taxpayers to settle debts of more than 100 billion euros ($112 billion) over 10 years.
Speaking in parliament, ahead of the final plenary voting on the government’s new taxation bill, Prime Minister Kyriakos Mitsotakis said this bill can be described as the “identity of the new government.”
“It corresponds to the government’s pre-electoral commitment to relief for Greeks against heavy taxation,” said the PM, stressing that reducing the ENFIA property tax and significantly upgrading the 120-installments repayment plan benefits both the millions of households as well as professionals and businesses.
“It has a clear social message,” he said, as it includes provisions for all taxpayers, but mostly for the weak.
The Prime Minister also added that the bill revitalises the productive middle class, revitalises the real estate market, changes the mix of economic policies towards new investments, growth, more jobs, and the growth of the national product so that it translates to a higher income for every Greek.
Within the next six weeks “about 4 million Greek citizens will see tax relief on their real estate when their property tax clearance forms come through,” concluded the PM.