Support to depend on taxpaying

Support to depend on taxpaying

The issue of another support package by the government will depend on the timely payment of taxes over the next few months, adding up to some 8.5 billion euros until the end of the year.

These tax obligations concern individuals and corporations, as they are income tax, the Single Property Tax (ENFIA), value-added tax (VAT) etc.

The impressive collection of some €690 million in ENFIA dues in May points to an increased collection rate thanks to the tax cuts that could exceed 85% this year, against 73.94% in 2021. Likewise, income tax may see its collection rate grow from 72% in 2021 to 80%.

Another factor determining whether more support measures are feasible will of course be the size of tourism revenues, as VAT on tourism will play be key for this year’s budget.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.