ECONOMY

Government seeks 8% property tax reduction

government-seeks-8-property-tax-reduction

The government is seeking to cut the supplementary property tax with which it is currently estimated that 450,000 taxpayers are being overcharged.

If authorities succeed in taxing properties that, until now, and for various reason, avoided paying tax, or paid very little, it plans to cut the supplementary property tax by 8%. 

Indicative of the importance the government attaches to the matter is that the tax cut, if it happens, will be announced by Prime Minister Kyriakos Mitsotakis at the Thessaloniki International Fair in early September. This is where Greek prime ministers traditionally lay out their economic policy priorities for the following year.

September will also see the end of many pandemic payments and tax rebates, except for professionals in a few sectors, such as catering, and a very tight tax payment schedule.