With improvements in the provisions for the three-year tax exemption of rents and the gratuities the tax bill that brings tax reduction and income support in 2025 was voted yesterday by the Plenary of the Parliament.
“We are consistently pursuing the policy of reducing taxes and promoting reforms aimed at further increasing the income of citizens, households and professionals,” said Deputy Finance Minister Christos Dimas.
The changes in the Tax Bill
From the filing of the bill to its passage, the following changes were included:
– Tax exemption for rents. Reduced the time the property can be used for short-term rentals from three years to one year so that property owners who return to long-term rentals can get income tax relief of the rents they have collected for 36 months. The purpose of the provision is to increase the number of houses available in the market.
– Gratuities. The 300 euro per month exemption from income tax for tips also applies to distributors connected to independent service or project contracts with digital platforms.
– Mutual Funds in Business Participations. Provision is made for the right to choose in terms of the tax rules of AKS (Business Holdings Mutual Funds).
-Tax declarations. Regarding the data submission obligations for the public sector for the pre-completion of tax returns, the following changes have occurred:
a) Public sector entities that must be registered in the Register and their responsible persons are more specialized.
b) The possibility of changing the responsible persons until the last date of sending the data is foreseen.
c) A maximum limit is given for an additional 50 euros per day of delay.