A new “tax basket” will hit Greek taxpayers during the Christmas period, as they are asked to pay a total of over 5.3 billion euros.
More specifically:
Income tax: The 6th installment of the income tax must be paid until December 29. The last installment should be paid by the end of February 2024.
ENFIA: The 6.3 million property owners, who are required to pay the total amount of 2.25 billion euros, must pay the 8th installment of the property tax.
Vehicle Tax: Vehicle taxes must be paid by the end of December. However, an extension will probably be granted until the end of February, as it is the case every year.
Moreover, the new year is generally more demanding in terms of taxes than the current year.
Specifically:
- Taxes on goods and services: Revenues from taxes on goods and services are expected to total 35.108 billion euros, up 1.401 billion euros or 4.2% compared to 2023, as:
-VAT revenues are expected to reach 24.271 billion euros, up 1.147 billion euros versus 2023, and
-consumption taxes are forecast at 7.136 billion euros, up 28 million euros compared to 2023. - Regular real estate taxes: Revenues are expected to reach 2.487 billion euros, down 53 million euros versus 2023, mainly due to the 10% reduction in ENFIA for owners who will insure their homes against natural disasters.
- Income tax: Income tax revenues are expected to reach 21.558 billion euros, increased by 597 million euros or 2.8% compared to 2023, as:
-the personal income tax is projected to reach 13.011 billion euros, up 739 million euros compared to 2023, despite the increase of the tax-free threshold by 1,000 euros for taxpayers with one or more dependent children.
-the corporate income tax is expected to amount to 6.935 billion euros, reduced by 185 million euros compared to 2023, due to the balancing of factors that had a fiscal impact in the previous financial year (temporary solidarity contribution to refining companies). - Taxes and duties on imports: Revenues are forecast at 399 million euros, up 20 million euros compared to 2023.
- Other taxes on production: Revenues of 718 million euros are expected from these taxes, reduced by 435 million euros compared to the 2023 estimate, mainly due to the inclusion of a provision for non-payment of dividends by the Bank of Greece.
- Capital taxes: They are expected to reach 239 million euros, at the same level as in 2023.
- Other current taxes: The revenue from these taxes is projected to amount to 2.391 billion euros, increased by 46 million euros compared to 2023.
- Transfers: Revenues are expected to reach 6.890 billion euros, up 1.434 billion euros from 2023.
- Sales of goods and services: Revenues of 987 million euros, up 163 million euros compared to 2023.
