Tag #Greek Tax Laws

What immediate impacts will the revised Greek tax form E1 have on taxpayers and the tax authority?

The Greek tax authority (AADE) released the updated tax form E1 for 2024, incorporating tax breaks for reopened and rented properties, properties shifting from short-term to long-term rentals, employees receiving tips, and professionals qualifying for a 50% reduction in imputed income. Taxpayers with a payable balance can pay in eight installments or in a lump sum by July 31st, with discounts ranging from 2% to 4% depending on submission timing. The final tax notice will only include income and luxury tax calculations, as the business tax has been permanently abolished for individuals.