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According to the final draft of the new budget, next year households, businesses and consumers will be asked to pay taxes totaling 69.2 billion. euros increased by 2.490 billion euros or 3.7% compared to 2024.
The increase in incomes, the new increase in the minimum wage, the strengthening of employment, the expansion of electronic transactions in combination with measures against tax evasion as well as the growth of the economy are expected to bring to the state coffers additional tax revenues of almost 2.5 billion euros in 2025.
What does the budget bring?
Taxes on goods and services
Revenues from taxes on goods and services are expected to reach the amount of 38.019 billion. euros, increased by 1.609 million euros or 4.4% compared to 2024. In particular:
- VAT revenues are expected to amount to 26.673 billion. euros, increased by 1.332 billion euros against 2024 and
- The EFFKs are foreseen in the amount of 7.276 million. euros and are increased by 47 million euros compared to 2024.
Taxes and duties on imports
Revenues of 362 million are expected from taxes and duties on imports. euros, increased by 18 million euros compared to 2024.
Regular property taxes
Revenues from regular real estate taxes are expected to reach 2.394 billion. euros, reduced by 40 million euros compared to 2024. Part of the change results from the reduction of ENFIA by 20% for owners who will insure their homes with a taxable value of up to 500,000 euros for natural disasters.
Other taxes on production
Revenues of 460 million are expected from other taxes on production. euros, reduced by 155 million euros compared to the estimate of 2024, mainly due to the abolition of the self-employment tax.
Income tax
Income tax revenue is expected to reach 25.212 billion. euros, increased by 1.009 billion euros or 4.2% compared to 2024. In particular:
• The personal income tax is expected to amount to 15.244 million. euros, increased by 882 million euros compared to 2024, as a result of the projected increase in dependent labor wages and the expected new increase in the minimum wage and
• The corporate income tax is expected to reach the amount of 7.972 billion. euros, increased by 120 million euros against 2024, despite the balancing of the factors that had a fiscal impact on the previous financial year from the Temporary Solidarity Contribution to the refining companies.
Capital taxes
Capital taxes are expected to reach 235 million. euros, at the same level as in 2024.
Other current taxes
Revenues from other current taxes are expected to amount to 2.523 million. euros, increased by 49 million euros compared to 2024.
Source: ot.gr
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Theme 1: Overview of the New Budget and Its Impact on Taxpayers
[Interviewer] The newly proposed budget for 2025 seems to have a significant impact on households, businesses, and consumers regarding their tax obligations. Can you both provide an overview of the key changes and how they may affect taxpayers’ finances?
[Guest 1] Absolutely. As per the final draft, taxes will increase by 2.49 billion euros or 3.7% compared to 2024. This is mainly attributed to the growth of the economy and measures against tax evasion. Guest 2, do you agree with this viewpoint?
[Guest 2] Yes, I do. The increase in taxes will indeed benefit the economy as a whole as it will provide more funds for government projects and initiatives. However, it may put a strain on households and businesses, especially with the rise in VAT and other indirect taxes.
Theme 2: Analysis of Increase in Income and Its Impact on Tax Collection
[Interviewer] The budget also expects an additional 2.5 billion euros in tax revenue due to the growth of the economy and new measures against tax evasion. What are your thoughts on this projection?
[Guest 1] The projected increase in income and tax collection is promising and necessary for the growth of the economy. However, it also highlights the importance of ensuring that tax evasion measures are effective and transparent. Guest 2, do you think the government can do more to promote tax compliance?
[Guest 2] Definitely. The government has taken steps towards increasing transparency by introducing electronic transactions, but there’s always room for improvement. Implementing stricter penalties for tax evaders and providing more education on tax laws could also help.
Theme 3: Impact of New Minimum Wage and Job Creation on Tax Collection
[Interviewer] The increase in the minimum wage is expected to have a positive impact on tax collection, alongside job creation. How do you both feel about this correlation?
[Guest 1] The correlation between a higher minimum wage and increased tax collection is clear – higher wages mean more taxable income. However, job creation is
