Draft law aims to boost business partnerships

Draft law aims to boost business partnerships

Finance Minister Christos Staikouras told Parliament on Wednesday the bill aimed at boosting entrepreneurship that is currently being debated is another decisive step in a wider plan for the transformation of the Greek economy.

Staikouras said the legislation will introduce the institution of partnerships between enterprises, improve tax incentives, strengthen the agricultural economy and promote the partnership of individuals, mainly farmers.

The legislation offers a 30% income tax discount for nine years to all corporate entities resulting from the partnerships of personal, very small, small and medium-sized enterprises, a discount raised to 50% for farmers.

This will accompany a government decision to lower the corporate tax rate to 22% from 29%.

The bill is a genuine reform, included in the National Recovery and Resilience Plan, designed to boost healthy entrepreneurship, achieve sustainable growth, create new jobs and boost social cohesion, argued Staikouras.

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