New taxation method will be adopted for self employed individuals incorporating in Greece
New taxation method will be adopted for self employed individuals incorporating in Greece
  Economy  |  Taxation  |  Laws  |  Greece

New taxation method will be adopted for self employed individuals incorporating in Greece

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RE+D magazine
01.11.2023

Profits from the business activity of self-employed individuals will now be taxed with reference to the minimum wage. The new system will be applied to sole proprietorships, excluding farmers and the self-employed with APY.

The new taxation method, which is included in the draft law with measures against tax evasion, was presented by the Minister of National Economy and Finance, Kostis Hatzidakis and Deputy Minister Haris Theocharis

The government estimates that out of a total of 735,320 self-employed people, 138,000 will have their tax burden reduced by an average of €560 each, 124,000 will have no burden or relief and 473,000 will pay more tax, an average of +1,444 euros each. .

The State currently collects 1.709 billion euros from the taxation of the self-employed (1.331 billion from the income tax and 378 million from the professional tax). With the implementation of the new system, it is predicted that revenues will increase by 874 million euros, while if the abolition of the pretense fee is taken into account, revenues will increase by 606 million euros.