Author: Thanos Tsiros

Income tax in Greece has risen by 41% despite a promising start to reducing social security charges and abolishing the solidarity contribution. The conservative government has failed to fulfill its promise to align salaries with the EU average, with inflation causing a further divergence. Data from the OECD shows that gross annual earnings have increased to €17,685 by the end of 2023. However, the average income tax has also surged to €1,334, representing a 41.01% increase from 2020. Social security contributions have remained relatively stable. Changes in the tax code have led to a scenario where a 3% rise in…

Get ready, 735,000 self-employed professionals are about to face scrutiny on their tax dues under the new system. With over 470,000 taxpayers receiving increased bills this year, the burden seems to fall heavily on small businesses. Many are facing a significant hike in the amount owed, raising concerns about the impact on their finances. The government aims to address this issue by eliminating certain fees and making adjustments to the income calculation formula to ease the burden on small professionals. However, the new system has already sparked controversy as it primarily affects the “small fry” in the professional world. In…

The Greek labor market continues to face a challenge with the lack of well-paid positions. Despite improvements in reducing unemployment and poverty wages, the percentage of individuals earning above €1,500 remains stagnant. Official data from the “Ergani” system reveals that only 18.9% of the total workforce in 2023 earn more than €1,500, compared to 20% in 2013. This disparity highlights the scarcity of well-paid jobs in Greece. The government emphasizes the need for increased wages and employment to combat inflation and enhance national income. This strategy involves engaging the economically inactive population and attracting foreign workers to address the ongoing…

[Intime] The Greek labor market is facing challenges with reduced employment, pay gaps for women, and low labor productivity rates. Despite the recent recovery, Greece still lags behind European countries in key indicators. The government aims to bridge this gap by increasing the participation of young people, women, and pensioners in the workforce. With 400,000 fewer employed individuals compared to 2009, efforts are being made to bring in economically inactive citizens to boost employment numbers. By tapping into this untapped workforce, Greece hopes to increase total income and improve the overall economic situation. With unemployment at 10%, the government sees…