Greece’s New Tax Bill Foresees Tax Relief Beyond Big Business

The Greek government is preparing to introduce a comprehensive tax relief package, offering benefits not only to large corporations, but also to freelancers, certain property owners, and farmers. The new measures are part of a bill set to be presented to the Greek Parliament in December, aiming to alleviate tax burdens and stimulate economic activity.

The proposed measures specifically target the self-employed and farmers while encouraging property owners to renovate old buildings and put them on the rental market.

Tax Relief for Freelancers and the Self-Employed
Freelancers, self-employed individuals, and sole proprietors will see a reduction in their tax burdens, according to OT.gr. This adjustment will account for the increase in the presumptive minimum imputed income, which rose from €10,920 in 2023 to €11,620 in 2024. The minimum imputed income is a baseline amount that tax authorities assume taxpayers have earned, regardless of their actual declared income, and 100% is prepaid in Greece.

The tax relief will benefit professionals in small settlements with populations under 1,500, those who employ workers, and individuals with turnover above the average. Additionally, workers paid through “invoice-based contracts” will enjoy a tax reduction of €400–€500. The move is also designed to encourage freelancers and the self-employed to cease tax evasion and declare all of their income.

Incentives for Property Owners
As part of the government’s strategy to address the housing crisis, property owners who rent out homes that have been vacant for at least three years will be eligible for a three-year tax exemption on rental income.

Moreover, property renovators can claim a tax deduction of up to €3,200 annually for five years, totaling €16,000, for eligible expenses such as energy-efficient upgrades, repairs, and aesthetic improvements.

The incentives are part of a broader move to ensure that rental property owners declare rental property income.

Support for Farmers
Professional farmers with dependent children will see their tax-free threshold increase by €1,000, translating into a tax reduction of up to €240 annually. The exact benefit depends on the family size, offering increased relief for those with multiple dependents.

Ongoing Support for Large-Scale Investments
Alongside these targeted measures, the government will continue its efforts to attract private investments, boost manufacturing, and support startups with a series of targeted tax breaks.