Because raising the minimum wage increases the income tax of freelancers in 2025

Upwards it will support – and – the owners of individual enterprises (from 2025) its increase from today (01.04). 24) by 6.4% This is because based on the factors (income tax) determining the presumed income of the owners of individual enterprises is the level of the minimum wage in question. This means that any increase in gross minimum wage (principle of the one in force since today 01.04. 24) will now lead to an increase in imputed income and thus income tax that individual entrepreneurs should pay, as they stress in the cycles of small and medium-sized entrepreneurs. Thus the increase in the minimum wage this year will reflect an increase in the assumed income of individual entrepreneurs in 2025, confirming tax experts. In particular, the relevant provision of that law (Article 15 of Law No 5073/2023) provides that persons exercising the annual minimum income from the exercise of their business activity shall be presumed not to be less than EUR 50,000 resulting from the sum of the following: (a) an amount of up to EUR 30,000 corresponding to the largest of the following: the annual amount of the gross minimum salary, as applicable on the last day of the respective tax year, plus 10% for the three years following the second three years from the declaration of initiation of a professional activity, plus 10% for the third three years for the four years following the second three years and plus 10% for the fourth three years for the following years or the amount corresponding to the gross earnings of the highest paid employee employed by the operator. (b) an amount of up to EUR 15,000 equal to 10% of the annual cost paid by the debtor for the payroll of the staff employed, now (c) an amount of 5% of the amount at which the turnover of the debtor exceeds the average annual turnover of the Activity Number (C.A.D.) The increase in the case of individual entrepreneurs with an amount of imputed income in the case (c) shall not apply in the following cases: – where the average annual turnover of the respective C.A.D. does not exceed EUR 10,000 or – where the number of employees covered by this C.A.D. does not exceed 30. For the purposes of applying this case, account shall be taken of the average annual turnover of the respective C.A.D. second degree of the previous tax year, concerning individual entrepreneurs, as posted on the website of the Independent Public Revenue Authority (A.A. D. Other: E.), within one month of the expiry of the deadline for the submission of income tax returns each year. In determining this average, no consideration shall be given to skilles with zero turnover. Especially with regard to the debtors with C.A.D. ‘exploitation of a small-scale shop in general, ‘pavilion exploitation’ and ‘retail trade in tobacco products in specialised stores’, for the determination of the customer’s annual turnover and for the determination of the average annual turnover of K.A.D., shall not take account of the sales of tobacco products. For those in debt with C.A.D. ‘exploitation of a flea shop in general’ and ‘sport exploitation’ as an average of the case (c) shall take into account the average annual turnover of all the skilled workers with these two K.A.D., without taking into account skill with zero turnover.