The 4 new tax bill changes that economy and finance ministry unveiled

The leadership of the economy and finance ministry on Tuesday unveiled the changes included in the new tax bill that will apply when tax returns are submitted, such as those regarding tips, the entrepreneurial tax for freelancers and the operation of the Independent Authority for Public Revenues (AADE).

1. Tips:  A tax-free amount of 300 euros per month is established for each employee who receives tips via POS, while they will be exempt from social security contributions. Amounts over this allowance will be taxed on the basis of the income tax brackets and no social insurance contributions will be paid.
2. Freelancers: The entrepreneurial tax is abolished from 2025
3. Tax returns: They will be submitted every year from 15 March until 15 July. A graduated discount of 4% to 2% is introduced, depending on the time when a tax return is submitted.
4. AADE: Changes in the administration model that includes, among others, the possibility of a second renewal of the term of office of the governor. 

National Economy and Finance Minister Kostis Hatzidakis praised the current AADE governor George Pitsilis, essentially paving the way for the renewal of his term of office which expires at the end of the year.