The time is counting down for the presentation of the new tax law to Parliament, which will include the entire “package” of measures announced by the prime minister in TIF for real estate, freelancers and insurance contributions.
The project will still go to vote from the Parliament immediately after the presentation of the project for the new 2025 State budget, next Monday, October 7, which will include the 2025 measures worth approximately 1.2 billion euros and which will reflect the fiscal framework in which the Greek economy will move in the next four years.
It should be noted that the government, based on available information, slightly lowers the growth threshold to 2.2% this year and 2.3% in 2025 while on the other hand it increases the primary surplus forecast to 2.4% of GDP this year. year, against a previous forecast of 2.1% of GDP. Furthermore, the increase in net primary expenditure is expected to exceed the initial target of 3% or 3 billion euros for 2025 and, specifically, close to 3.5 billion euros, thanks to this year’s good fiscal performance.
As for the new tax law that is “just around the corner”, it will include, among other things, a three-year exemption from income tax for vacant properties that will be rented, corrections to the presumptions of self-employed workers with the simultaneous abolition of Commercial Tax, reduction of ENFIA up to 20% for insured homes, suspension of VAT on property transfers and in 2025, exemption from tax on employer benefits for new parents, independent taxation of NHS doctors’ retention fees and a reduction of one unit in insurance contributions.
More specifically, the provisions of the bill will provide
— 50% reduction in the minimum taxable income for self-employed professionals, self-employed workers and individual companies operating in areas with up to 1,500 inhabitants.
-abolition, from 2025, of the Commercial Tax for self-employed workers for whom the tax is calculated presumptively. This year, professionals were asked to pay a reduced rate of 50%, namely 325 euros, while in 2026 they will not pay a single euro in tax. The Fee remains for legal entities and their branches.
-Discount of 20%, from 10%, to ENFIA for homes with a total value of up to 500,000 euros that are insured against natural disasters (earthquake, fire, flood).
It should be noted that for owners who have insured homes with a taxable value exceeding 500 thousand euros, the ENFIA discount remains at 10%, but if they do not insure them against natural catastrophes by June 1, 2025, they will not be compensated. by the State for damage caused by natural disasters.
– income tax exemption for three years for owners who open closed properties or convert short-term leases into long-term leases.
In any case, the property must be vacant on an E2 basis or under a short-term rental for at least 3 years, its area must not exceed 120
m² and be owned by individuals and not companies. The deductible for a homeowner with a monthly income of 1,000 euros amounts to 1,800 euros per year or 5,400 euros for three years, while for a monthly income of 1,660 euros the annual benefit is 4,600 euros.
-extension of the suspension of VAT on property transfers until the end of 2025. The measure will apply to all properties not distributed by the developer, all construction licenses that have been issued and relate to owned properties or to properties that he builds with the compensation system, until the suspension request.
-exemption from 15% premium tax on health policies for children. In the case of a family or group contract, the tax is reduced proportionally to the number of minor members it covers.
– self-imposed taxation at the rate of 22% of SNS emergency services. This essentially means that the monthly net benefit for doctors is estimated at around 150 euros on average.
– a 1% reduction in insurance contributions from January 1, 2025, of which 0.5% from employee contributions and 0.5% from employer health sector contributions
-fix the return of EFFK to agricultural oil.
In addition to the above, it will also be provided that financial benefits of up to 5,000 euros per year from employers to employees – new parents, will be exempt from income tax up to 12 months after the birth of a child and up to the amount of 5,000 euros per year, the amount in question being increased by 5,000 euros for each dependent child. A necessary condition is that there is no reduction in the new parent’s income during the months in which they received the benefit, as well as in the six months immediately preceding and following in relation to the income of the last month prior to the benefit. Tax exemptions are also provided for childcare vouchers provided by companies to their employees.
