Income increases for 5 “groups” of taxpayers, the new year brings, as the solidarity levy is abolished on all additional fees, the pretense fee is “erased” for companies that hired staff, the tax-free limit is increased, 10% is “cut” the ENFIA while greater tax deductions are introduced for home renovations.
*Those employees in the public sector who received in 2023 additional payments for overtime, grants and extraordinary allowances will not pay a solidarity contribution due to the abolition of the measure from 1-1-2023 and for civil servants and pensioners.
Given that for additional and extraordinary wages, the solidarity contribution is not withheld when they are paid, as is the case with regular wages, but when the statement is cleared, the amounts saved range from 22 euros to 176 euros depending on the amount of the extra wages.
*Tax withholding for families with children is reduced from January 1st and therefore net monthly earnings increase due to the €1,000 adjustment of the tax-free limit. Depending on the amount of wages, the increases that 1.34 million employees and pensioners with protected children will receive will start from 6.4 euros to 18.3 euros per month and on an annual basis from 90 euros to 220 euros depending on the number of the children.
Farmers as their main occupation will also have a similar reduction, but this will be seen in the statement they will receive in 2025 upon the submission of the tax return for the 2024 incomes.
*Professionals and small and medium-sized businesses that increased their staff for at least one quarter within 2023 will have a 100% discount from the registration fee. That is, they will not pay from 400 to 1,000 euros depending on the form and location of their company.
It is pointed out that the relief is entitled to self-employed persons and businesses with gross revenues of up to 2 million euros per year which increased the number of full-time employees until September 30, as according to the current legislation, they should maintain it for at least one quarter, i.e. until the end of December for recruitments made on October 1st.
According to Finance Ministry estimates, potentially around 900,000 businesses and professionals will be able to avoid the fee if they increase the number of full-time employees.
*More than 1 million natural persons who have insured their residence against natural disasters (fire, earthquake, flood) as well as those who have acquired a residence with a mortgage loan will have a 10% reduction in the ENFIA that they will be required to pay next year. A prerequisite for earning the full 10% discount is that they have insured 100% of the rateable value of their home or homes for the whole of 2023.
Otherwise, the tax reduction will be proportional to the duration of the insurance, which cannot be less than three months. This means that for 12-month insurance the ENFIA is reduced by 10%, for 9 months a 7.5% discount is applied, for six months the discount is limited to 5% and for three months to 2.5%, while no reduction applies to homes that are insured for a period of less than three months a year.
For example, a taxpayer with home insurance throughout 2023 and with an ENFIA of 400 euros will have a 10% reduction, i.e. next year he will pay 360 euros. If the same taxpayer insured his residence for 6 months in 2023, the discount on the amount of ENFIA will be 5% at 400 euros and he will finally pay 380 euros.
*Taxpayers who made expenses for the renovation of their residence from 2020 onwards will have a discount on the income tax they will be required to pay in 2024 up to a maximum of 1,600 euros. Based on the current regime, the discount for expenses incurred from 2020 to this year amounts to 40% with a maximum expenditure of 16,000 euros. That is, taxpayers for works of the order of 16,000 euros will have a discount of 40%, i.e. 6,400 euros, an amount that is distributed equally over four years, i.e. 1,600 euros per year.
Source: ertnews
Read also:
Panathinaikos: Ivan Jovanovic ends – Fatih Terim era begins in clover
Vassilis Karras: Hearts were broken at his funeral – A stern farewell to the “magical night” VIDEO
Germany: Police shoot and kill a 49-year-old Turkish man in the middle of the street – VIDEO
The joint interview of Nikos Polyderopoulos with his siblings – What the bereaved 28-year-old Pantelis said
#Taxpayers #fruit #increases #due #measures #effect #Year
