Mitsotakis announces tax rate reduction to 22% from 24%

Prime Minister Kyriakos Mitsotakis.

Prime Minister Kyriakos Mitsotakis announced five tax reductions and insurance reliefs for employees and companies during a teleconference meeting on the restart of the Greek economy.

https://www.youtube.com/watch?v=wxBMj2vTOWs

Among other things, the tax cuts include a reduction in the tax advance for all natural persons who are in business, to 55%, while the special solidarity contribution to the private sector is suspended for 2022.

In total, Mitsotakis announced five tax and insurance reliefs for employees and companies after a meeting to restart the Greek economy.

The Prime Minister Kyriakos Mitsotakis - Sputnik Greece, 1920, 22.04.2021

Mitsotakis' new reliefs in detail:

  1. The tax advance from 100% to 55% is reduced from this year and on a permanent basis - for all natural persons who do business.
  2. The tax advance is reduced on a permanent basis for legal entities and legal entities from 100% to 80% from '22. Especially for this year it is still reduced to 70%.
  3. The tax rate of all legal entities and all legal entities is reduced on a permanent basis from 2022, ie for the tax year of '21, from 24% to 22%.
  4. The reduction by 3 percentage points of the insurance contributions of private sector employees for 2022 is extended.
  5. The suspension of the special solidarity contribution in the private sector is extended for 2022.

READ MORE: Greek economy expected to grow by 3.5-4.0% this year.

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