Here comes the first bill after INT – It will concern tax relief measures

Inverse measurement for the deposit that will predict the taxes announced at the Thessaloniki International Exhibition (7.9.2024) by the Prime Minister, Kyriakos Mitsotakis. The bill will be submitted to Parliament immediately after the draft new budget on the first Monday of October, and will incorporate the measures in property taxation, income, benefits and insurance premiums, according to the ertnews. That is to say, the three-year income tax exemption for vacant properties to be rented, corrections to the evidence of free professionals with the simultaneous abolition of the Fee On the other hand, there is a reduction in the amount of ELF up to 20% for insured dwellings, a suspension of VAT on real estate transfers, and in 2025, an exemption from the tax on benefits from employers to young parents, an independent tax on fees from the NSO doctors’ offices and a reduction in insurance contributions by one unit. In particular, the new arrangements provide for: Three-year income tax exemption for those owners who open closed properties or convert short-term leases into long-term . The basic condition is that the property is empty as it arises from E2 or is in short-term lease for at least 3 years, its area not to exceed 120 sqm and belongs to natural persons rather than businesses. The relief for an owner with a monthly rent of 1,000 euros amounts to 1,800 euros per year or 5,400 euros over the three years and for a monthly rent of 1,660 euros the annual benefit is 4,600 euros. 20% discount (from 10%) on the EFFIA for housing of a total value of up to 500,000 euros insured from natural disasters (shock, fire, flood). For owners holding insured residences of a taxable value of more than 500,000 euros the discount on the ENFIA remains at 10% but if they do not insure them against natural disasters by 1 June 2025 they will not be compensated by the State for damage from natural disasters. Extension of the suspension of VAT on real estate transfers until the end of 2025 . The measure will apply to all unspoiled properties of the manufacturer, from all building permits issued concerning either his own property or property which he erects with the system of compensation until the request for suspension. Thus, for housing worth 200,000 euros the cost of purchasing VAT 24% and transfer tax is set at 248,000 euros. With VAT suspension the price of the same property falls to 206,000 euros, since only a 3% transfer tax is imposed, so the buyer will pay 42,000 euros less or 17%. A 50% reduction in the minimum taxable income for professionals, self-employed and individual enterprises operating in areas with up to 1,500 inhabitants (now the 50% discount applies to those based in villages with a population of up to 500 inhabitants). Transfer to the end after counting the other criteria of the criterion for the maximum wage of a worker who increases the minimum remuneration. Today the salary of the highest paid employee is taken in comparison at the beginning as the highest amount compared to the minimum wage of more than three years of the debtor before the other criteria are counted (wage and turnover premium). An increase in the average turnover of the SDR , thus limiting the increase in the minimum taxable income for professionals whose turnover exceeds the average of the respective SDR . With the applicable system of determining the minimum presumed remuneration if the turnover of the freelancer exceeds the average annual turnover of the Activity Number (C.A.D.) of the sector to which it belongs, an increase in its minimum presumption fee is imposed by 5% of the difference. Removal from 2025 of the End of the Profession for the freelancers for whom the tax is calculated in a hypothetical manner. Professionals this year were asked to pay a reduced fee of 50% and specifically EUR 325, while in 2026 they would not pay a single euro tax. The end remains for legal persons and their branches. Money benefits up to 5.000 euros per year from employers to employees – young parents, are exempt from income tax up to 12 months from the acquisition of a child and up to 5,000 euros per year. The amount shall be increased by 5,000 for each dependent child. The requirement is that there is no reduction in the remuneration of the new parent during the months he received the benefit, as well as for the immediately preceding and next six months in relation to the earnings of the last month prior to the provision. Tax exemption is also granted to voucher for day care centres provided by businesses to their employees. Exemption from insurance tax 15% health contracts for children. In the case of a family or group contract, the tax is reduced proportionally to the number of minor members covered. Self-tax at a rate of 22% of the ESA ‘s newspapers . The monthly net benefit for doctors is estimated at around 150 euros on average.