European Commissioners in Athens: tax incentives under the microscope

It is expected that the Greek economy will go through the “sieve” for the 12th time since the country’s withdrawal from the memorandum. Lender representatives will again arrive in Athens today for the 12th post-memorandum assessment of the Greek economy to monitor the country’s finances and approve or reject any government decision.

According to the information, in addition to the reforms that the government will have to carry out by the end of the year, it is necessary to complete a number of innovations, such as support measures announced by the financial staff (clarification of prices for electricity, oil and gas), as well as to summarize the savings, due to the introduction the final draft budget to parliament, which is scheduled for November 21.

However, the activities of the European Commissioners do not focus solely on government intervention. It is also expected that the inspectors will assess how Greece is going to distribute the “surplus” – in the form of a social dividend at the end of the year, including among the needy, as well as medical workers and retirees.

New tax incentives will also fall under the microscope, such as the abolition of the solidarity contribution to the state and pensioners until 2022, a reduction in the commission tax (τέλους επιτηδεύματος), up to maintaining the tax advance at 50%.

Nonetheless, the new ENFIA scale is considered a “big headache” as it was initially announced that the additional 8% cut that the government had been announcing for years had been frozen due to the pandemic and was due to occur next year.

However, according to the available information, all these decisions and innovations of the government may not reach the required degree of “making life easier for citizens”, and therefore will still be reviewed, and more than once.

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