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Economy

Greece: FinMin Bill to Reduce Prepayment of Tax for Self-Employed, Businesses

ATHENS — A draft amendment tabled in Parliament on Wednesday reduces the prepayment of income tax this year from 100 pct to 55 pct for self-employed and small businesses, and to 70 pct for other businesses except banks.

For 2022, the Finance Ministry bill sets the prepayment of income tax for businesses to 80 pct, and abolishes the solidarity fee for wage-earners in the private sector in that year as well.

The tax calculations will be based on filings as of tax year 2020.

Banks are still expected to provide the 100 pct prepayment of taxes, while the tax on profits earned in 2021 will drop for businesses from 24 pct to 22 pct.

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