First relief for Greece's tax-battered middle class in post-bailout era expected next month

Monday, 02 December 2019 12:58
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The first tax relief for Greece's battered middle classes after nearly 10 years of economic crisis and three consecutive bailouts appears on the horizon next month, with wage-earners and pensioners in the country expected to see more euros remaining in their pocketbooks under a draft bill that includes lower tax rates and an increase in the deductible based on number of dependents are calculated.

The draft bill on taxation was recently tabled by the Mitsotakis government, and mainly aims at benefiting lower-income wage-earners and pensioners, traditionally the mainstay of revenues for state coffers - given that both sizable groups cannot hide incomes.

For instance, if the bill is ratified, a certainty, then a wage-earner with three underage children as dependents will see an extra 27 euros per month left over, after monthly taxes are withheld; 17 euros for a wage-earner with two dependents.

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