NEWS

Tax relief measures for monks, monasteries

An amendment introduced by 16 New Democracy MPs offering tax relief to monks and monasteries was accepted by Education and Religious Affairs Minister Andreas Loverdos on Wednesday.

According to the new legislation, retired monks will not have to submit a tax declaration if their annual pension is under 9,500 euros. Monasteries will also no longer be obliged to submit a declaration of real estate assets as they are exempt from the new single property tax, nor will they have to pay a rent levy to the state from property they are leasing out. Their tenants will bear the cost instead.

Churches and monasteries will also no longer have to withhold income tax from payments to individuals or companies for services rendered.

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