The first post-bailout tax breaks appeared in the 2019 draft budget, which was tabled in Parliament on Monday, mostly based on the modest pledges made by Greek Prime Minister Alexis Tsipras at a trade fair in Thessaloniki early last month.
Specifically, the property tax (ENFIA) was cut, on average, by 10 percent, with the state budgeting 263 million euros less from this specific tax for the coming year.
Additionally, a reduction in Greece's high top personal income tax bracket (29 percent) was listed, falling by one percentage point for personal income generated in 2019. The current leftist-rightist coalition government has promised to cut the top rate from 29 percent to 25 percent, but over four years. Even though 2019 will witness a general election, the poll-leading center-right main opposition party has also promised to cut Greece's very high personal and business taxes.
Another tax break included in the draft budget is a reduction in the rate imposed on distributed profits, by five percentage points, from 15 percent to 10 percent.
