Kyriakos Mitsotakis referred to the economic measures to be taken by the government, which have a four-year horizon, during the debate on the programmatic statements. One of these is tax cuts.

The next four-year measures include an increase of the tax-free allowance by 1,000 euros for families with children for 700,000 taxpayers, with a benefit of €90 for a family with one child, a benefit of €220 with two or more children.

Furthermore, a new 10% reduction in ENFIA is coming for homes insured against natural disasters, while former beneficiaries of the EKASΘ are permanently exempted from pharmaceutical costs.

Furthermore, it is planned to gradually abolish the tax on taxable income, which will be reduced by 20% in 2024, by 30% in 2025 and 50% in 2026, while from 01/01/2025 the 30% reduction of presumptions will be applied.

What are the tax cuts and when they will be made

From 1 January 2024:

1. Tax-free increase: €1,000 for each child

• 1 child: Tax reduction of EUR 90
• 2 children: Tax reduction EUR 220
• 3 children or more: tax reduction of €220

2. 10% reduction in ENFIA: For property insurance

• Application: ENFIA 2024 (premiums 2023)

3. Phasing out: Business tax

• 2024: 20% reduction
• 2025: 30% reduction
• 2026: 50% reduction

From 1 January 2025

Reduction of presumptions: by 30%

Application: From 1/1/2025

What changes to welfare benefits

It is abolished: Payment on account

Exclusive: Via debit cards

About

• Child benefit
• Housing benefit
• Disability - welfare
• Minimum Guaranteed Income etc.
• Birth allowance
• Adults