DistantNews
Support us
Greek Market Seeks Tax Relief and Investment Boost Ahead of Thessaloniki Fair
🇬🇷 Greece /Economy & Trade

Greek Market Seeks Tax Relief and Investment Boost Ahead of Thessaloniki Fair

From Ta Nea · () Greek

Translated from Greek, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • Greek businesses and professional organizations are urging the government to implement tax cuts and investment incentives before the Thessaloniki International Fair.
  • Key proposals include reducing corporate tax rates, extending loss carryforward periods, and offering ENFIA discounts for insured commercial properties.
  • The Athens Accountants Association specifically requests a reduction in the legal entity tax rate to 20% and the abolition of the minimum assumed income tax for freelancers.

As the Thessaloniki International Fair approaches, where Prime Minister Kyriakos Mitsotakis is set to unveil tax relief measures for 2027, Greece's economic sectors are actively submitting their proposals. Business associations, chambers of commerce, and professional bodies are calling for significant tax reductions, investment incentives, and measures to boost business liquidity and support workers' disposable income.

The Ministry of National Economy and Finance has begun discussions with market stakeholders. Deputy Minister Dimitris Marcopoulos stated that "every proposal is examined and costed, so that those that are prioritized are accompanied by a specific fiscal footprint." This indicates a structured approach to evaluating the financial impact of proposed changes.

Central to the demands is a reduction in the corporate tax burden. Businesses are seeking a lower advance payment of income tax, the ability to carry forward tax losses beyond five years, increased depreciation allowances for industrial investments, ENFIA (property tax) discounts for insured commercial properties, and enhanced tax incentives for export-oriented companies. The Athens Accountants Association has put forth specific requests, including lowering the corporate tax rate from 22% to 20%, reducing the advance tax payment by 30%, completely abolishing the solidarity levy for legal entities, and eliminating the minimum assumed income tax for freelancers, advocating for taxation based solely on actual income derived from electronic data.

Furthermore, the call for a new debt settlement plan, allowing repayment of public debts in up to 120 installments, has resurfaced due to ongoing liquidity issues faced by many small and medium-sized enterprises (SMEs). Commercial and professional bodies also desire a more flexible framework for tax liabilities, improved access to financing, and rewards for compliant businesses. Enhancing business competitiveness is another focal point, with demands for more investment incentives, higher depreciation rates, measures to facilitate international expansion, and reductions in operational costs. The Hellenic Confederation of Commerce and Entrepreneurship (ESEE) has highlighted the costs of digital transformation, liquidity improvements, debt regulation, and incentives for compliant businesses, emphasizing the continued pressure on SMEs. The Athens Accountants Association also proposed recognizing rent as a deductible expense from taxable income to address the housing problem affecting households.

every proposal is examined and costed, so that those that are prioritized are accompanied by a specific fiscal footprint.

— Dimitris MarcopoulosThe Deputy Minister of National Economy and Finance, responsible for tax matters, stated the government's approach to evaluating business proposals.
DistantNews Editorial

Originally published by Ta Nea in Greek. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog