Treasury’s Tax Plans and Projections
The Treasury is aiming for record tax revenues from individuals, targeting around 15.5 billion euros, exceeding a set goal of 15.2 billion euros.
Authorities attribute this success to increased incomes for wage workers and pensioners, noting that many are paying more taxes since the income brackets haven’t been adjusted for inflation.
In 2024, individuals contributed 14.3 billion euros in taxes, which is a noticeable increase from 9.3 billion euros in 2010, marking the first year under the austerity measures imposed by Greek creditors.
Self-employed individuals haven’t reported higher incomes; instead, many declared only the minimum required, particularly under the “attributed income” rules. Those earning from rental properties, however, showed different trends, with an average declared rent of 255 euros monthly.
Wage workers and pensioners face withholding taxes. With about 6.7 million taxpayer declarations processed—many including additional income—the overall tax revenue only saw a minor increase, totaling 49.7 billion euros in comparison to 4.81 billion euros in 2024.
Interestingly, even though the penalty-free deadline for income returns expired on July 21, many are still filing late, with approximately 53,000 doing so. Of these, only about 34.80% faced an additional tax increase, averaging 2,103 euros per taxpayer, while 21.87% paid an average of 392.70 euros, reaching nearly 3 million people.
Taxpayers have already begun receiving their tax bills for this year. The cutoff for those who qualify for a discount of up to 4%, who opted to pay by July 31, has passed. The top discount was given to those who filed and paid by April 30, primarily benefiting those with significant debts who sought to gain from “bonuses.”
Moreover, self-employed individuals were key beneficiaries of tax reforms introduced in 2019, shortly after the conservatives took power. Although they faced heavy taxation during the austerity years from 2010, their profits have significantly outpaced other income groups.
