ECONOMY

More tranches considered for this year

more-tranches-considered-for-this-year

The Finance Ministry is planning to allow businesses and households to pay their incomes tax in more installments to make it easier for them to meet their obligations this year. If the plan is implemented, it will increase the tranches for companies from six to eight and for individuals from three to six.

Minister Christos Staikouras told Skai TV on Wednesday that monthly payments could stretch up to February 2021, given that up to that point the revenues could still be included in this year’s budget. The low flow of tax declarations may also lead to a deadline extension beyond June 30.

Staikouras added that the government will legislate within this month on tax breaks for landlords who lost part of their rental revenues due to state decisions, an issue likely to be settled this year, as a discount on their income tax or the Single Property Tax (ENFIA).

He also announced that any value-added tax reductions on coffee and other refreshments at cafes etc, as well as any other tax measures to support tourism and food service, will originally apply from June to September, with a possible review for later.