Greece Unveils €1.5 Billion Plan for Tax Relief and Income Boosts in 2025

11:25 3/1/2025 - Πηγή: iEfimerida

The Greek Ministry of Finance has announced a major economic stimulus package worth €1.5 billion, featuring a combination of tax cuts and income-boosting measures designed to put more money in the pockets of Greek citizens and fuel

economic growth. 

The changes, set to take effect in 2025, build on the government's ongoing efforts to overhaul the tax system and promote economic recovery.

The package includes 18 tax reductions and 7 measures to enhance incomes across various segments of society. Since 2019, the government has eliminated or reduced over 70 taxes, and this latest initiative continues that trend.

Among the key measures is a reduction in social security contributions, which will lower costs for employers and increase take-home pay for employees. 

The change, amounting to €440 million in savings, brings the total reduction in social security contributions since 2019 to 5.4 percentage points.

Another significant change is the complete elimination of the annual tax on professional licenses, resulting in savings of €238 million for individuals in 2025. The plan also includes a tax exemption for properties up to 120 square meters that are rented for at least three years.

To further support citizens, the government will increase financial assistance for low-income pensioners and those in need of medical care. 

Families will also benefit from cuts in insurance premiums for children's health coverage and additional tax breaks.

Other measures include the suspension of capital gains tax on real estate transactions and reductions in transaction fees for small businesses and consumers. 

The changes aim to stimulate economic activity and make daily life more affordable.

On the income side, the plan includes a 2.4% increase in pensions, a higher student housing allowance, and additional support for military personnel, police officers, and emergency responders.

These combined tax reductions and income support measures represent a significant step towards strengthening Greece's economic recovery and promoting more equitable growth. 

The government's focus on providing financial relief and stimulating the economy is expected to pave the way for continued economic resilience and improved living standards for all Greeks.

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