Government officials at the Prime Minister’s Office are now conducting the final rehearsals for the presentation of the measures that the Prime Minister will announce at the Thessaloniki International Fair (TIF) on Saturday, following the completion yesterday of the round of consultations with representatives of social groups and market organizations.
Over the past two days in particular, Kyriakos Pierrakakis held a series of meetings at the Ministry of National Economy and Finance with delegations representing pensioners, large families, the country’s business community, taxi drivers, and other organizations, allowing them to submit requests concerning their respective groups right up until the last minute.
The measures under consideration range from granting thousands of low-income pensioners up to the equivalent of one “national pension” every November, and providing a “bonus” to consistent taxpayers, to tax relief for businesses and self-employed professionals.
For employees and pensioners, the plan includes, among other measures:
A dramatic increase this year in the annual €250 benefit for pensioners and vulnerable groups. Instead of the €300 that had already been announced and legislated, the payment could rise to €400 or more, approaching the €446 level of the national pension.
A €40–50 increase in the minimum wage in 2027, which will also benefit all public-sector employees. Instead of the €950 previously announced at earlier TIF events, the new minimum wage could reach €960–970, potentially increasing dozens of social benefits that are linked to it.
Abolition of the personal difference mechanism and a reduction in the pensioners’ solidarity contribution.
Reductions in social-security contributions.
An increase in the daily meal/food card allowance, potentially from the current €6 to €8–10, which is also a common request from both employee and employer organizations.
Housing measures.
Benefits for families with children.
Low-cost loans for farmers and businesses.
Among the requests from organizations that are expected to form a central “canvas” for the announcements are also several proposals from the business community, including:
A reduction in advance tax payments, which is a key demand of virtually all business organizations.
Rewarding consistent taxpayers, as proposed in a memorandum submitted to the Finance Ministry by the Permanent Committee of Market Organizations. One proposal under consideration is the creation of a National Business Compliance Index, through which tax compliance would be measured with the aim of rewarding it.
In addition to reducing the tax presumptions (“tekmiria”) and partially or fully exempting professionals from them, the proposals include faster tax refunds, less intensive preventive audits, more favorable treatment in debt-repayment arrangements, the ability to self-correct formal and low-severity violations without penalties, administrative facilitation, and - business bank accounts, among other measures.
Additional Measures Under Consideration
The measures being examined also include:
Exemptions and reductions in the calculation of tax presumptions for professionals.
Lower taxation of businesses.
Gradual abolition of the business levy (“telos epidevmatos”).
Freezing VAT and the capital-gains tax on property.
Reform of the standard debt-repayment scheme.
Extending the depreciation period for investments, among other measures.
The new system could offer benefits based on the degree and duration of a taxpayer’s compliance, including faster tax refunds, priority in obtaining tax clearance certificates, less intensive preventive audits, reduced advance tax payments, more favorable treatment in debt arrangements, the ability to self-correct formal and low-severity violations without penalties, and other administrative conveniences.
The Permanent Committee of Market Organizations has also proposed:
Tax relief when profits are directed toward investment.
Changing the tax treatment of rental-property income in order to encourage long-term rentals.
Modernizing property taxation.
Further extending the suspension of the property capital-gains tax.
Reducing non-wage labor costs, with an emphasis on new hires and labor-intensive businesses.
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