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Greek Ministry of Finance Provides Tax Measures Overview — Orbitax Tax News & Alerts

The Greek Ministry of Finance has published the text of a speech given in parliament by Deputy Minister of Finance Apostolos Vesyropoulos on the 2022 Budget. In the speech, the Deputy Minister provided an overview of relevant tax measures:

  • The reduction of the tax rate for companies from 24% to 22% is maintained on a permanent basis;
  • The reduction of insurance contributions by 3.0% is extended until 31 December 2022;
  • A permanent reduction in advance tax payments for companies (legal entities) from 100% to 80% is provided from the 2021 tax year;
  • The suspension of the special solidarity contribution for employment income in the private sector is extended to 2022;
  • A permanent reduction in advance tax payments for business activity of individual entrepreneurs (natural persons) from 100% to 55% is provided from the 2020 tax year;
  • The reduced VAT rate of 13% for passenger transport, coffee and non-alcoholic beverages, cinema, and tourist packages is extended until June 2022;
  • The reduced VAT rate of 13% for gyms, swimming pools, and dance schools (not otherwise exempt) is extended until June 2022;
  • The scope of the reduced VAT rate of 6% is revised to include animal feed on a permanent basis; and
  • An additional 100% deduction is provided for green, energy, and digital investments by SMEs.

Note, the above tax measures have already been approved.