On Tuesday at noon, the Greek Ministry of Finance submitted for public comment a new bill providing for tax cuts and income support measures. It is expected to be put to a vote before Parliament closes for the summer recess.
Measures to be included in the bill include:
- Market Pass: Extension of this measure for another three months (August, September and October)
- Youth Pass: In September, a youth pass will be issued for the first time to those who turn 18 this year. The €150 bonus will be credited to their digital wallet or bank account.
- Increasing the tax-free rate: A €1,000 increase in the tax-free income threshold for employees, pensioners and farmers with children will come into effect from 1 January 2024.
- Reduction of the penalty deduction for working pensioners: the immediate abolition of the “penalty” deduction in the amount of 30% of pension earnings for working pensioners is expected.
- Public Sector Wage Raise: Establishing a new pay scale for public sector workers with significant increases in family allowances and positions of responsibility, and increasing the starting wage of a public sector worker with compulsory education from 780 euros today to around 840 euros.
- Reduction ENFIA: reduced by 10% in 2024 for those who have or will insure their home before the end of the year.
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