Greece Gazettes Law Providing Middle Class Tax Support

The Greek Official Gazette Nov. 11 published Law No. 5246, providing middle class tax support. The law includes measures: 1) reducing individual income tax rates for employment income and pensions, and setting brackets from 9 percent for income up to 10,000 euros (US$11,616), to 44 percent for income over 60,000 euros (US$69,703); 2) extending by one year, through 2026, the individual income tax deduction of 30 percent of expenses for carrying out specified purchase transactions electronically, capped at 5,000 euros (US$5,808); 3) reducing annual objective expenditures for houses, cars, and boats, and abolishing the minimum objective expenditure for dependent children, ...