Incentives for good taxpayers

Incentives for good taxpayers

The government is planning incentives for taxpayers who are consistent in their tax obligations and those who have included their arrears in debt settlement and repay them without delay. These bonuses are expected to be activated from 2025.

“We are considering important incentives for next year, so that the consistent taxpayer who submits tax returns early and pays their dues early will have additional financial bonuses,” said Deputy Minister of Finance Christos Dimas.

Various proposals are on the table, such as: a 5% discount for those who pay income tax, ENFIA and social security contributions with a one-off payment (today a 3% discount only applies to the one-time payment of income tax); increase of entries in the monthly lottery draw by the tax authority; reduction of the interest rate by 50% for future debts to the state; faster tax refunds; and reduction of money withheld for those who have confirmed debts and want to collect money from the state, as well as removal of asset freezing.

The degree of taxpayers’ reliability will unlock more bonuses, notes the ministry, while measures will be toughened for those who do not comply. The withholding rate will drop depending on the number of paid tranches and the amount due.

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