New tax reductions for middle class expected to be finalized in April

A new package of measures to relieve the tax burden of middle-class wage earners is expected to be set within April.

The action had been announced by the Finance Ministry earlier and includes tax reductions as well as the level of presumed living expenses.

At the same time, the European Commission and the Hellenic Statistical Service are expected to finalize in the third week of April the figures for the execution of the 2024 state budget, and will also be providing the first reliable estimates on the progress of this year’s budget. These assesments will show the fiscal flexibility that will then determine the extent of the government’s intervention.

Based on positive data so far, the Finance Ministry is looking at reducing direct taxes, particularly the tax rates and the reductions of factors related to middle incomes, while lower incomes will also benefit. In terms of presumed living expenses, the government is looking at reducing them by 30%, and at other amendments, in order to correct imbalances and injustices evident today.

Source: ANA-MPA