Tax in Greece to be lowered?

Greece lowers the limit of cash transactions from 500 euro to 300. Purchases with a value above the new limit should be made exclusively through electronic payments. The new limit is thought as a measure to combat tax evasion. This is one of the measures of the draft tax bill published for public consultation on last Thursday.

The bill introduces a series of tax cuts for businesses and natural persons. Among the new taxation measures are:

A reduction in business tax from 28% to 24% for 2019

Incentives for foreigners moving their tax residence in Greece

Dividends tax be reduced from 10% to 5%

Relief of company bonds in official markets from income tax and the solidarity fee.

Basic tax rate of 9% for employees, workers, free-lancers and pensioners. tax rate is currently at 22%.

Higher tax exception per child.

Reduced Value Added Tax for motorcycles helmets and baby items.

For those with confiscated bank accounts, expenditure limit is up to 5,000 euros.