At a press conference detailing measures previously announced by Prime Minister Kyriakos Mitsotakis, Minister of National Economy and Finance Kyriakos Pierrakakis set out an income, tax and investment package costing EUR 2.2 billion in 2027. Measures falling within 2026 will cost EUR 605 million, while the package’s total cost will rise gradually to EUR 3.6 billion by 2030. The package removes presumptive income above the minimum wage and seniority increments for more than nine in 10 self-employed professionals, and reduces their advance tax payment from 55% to 50% for tax year 2027. It also eliminates tax on income up to EUR 20,000 for full-time farmers and parents with three children. From April 2027, private-sector social security contributions will fall by 0.5%, while corporate advance tax payments will decline by 5 percentage points annually from 2028, ultimately falling from 80% to 50%. Additional measures include a higher EUR 400 permanent November payment for pensioners, extended to another 270,000 recipients, a EUR 500 gross Christmas payment for public servants from 2027, faster depreciation of machinery investments and the phased abolition of the business levy for legal entities. Housing measures include a EUR 2 billion Home III program and an increase in the property transfer tax for third-country individuals from 3% to 15% from July 1, 2027. The government also plans to legislate a child investment account that families may open within two years of a child’s birth. The state will match private contributions euro for euro up to EUR 1,200 annually, with parents, relatives and family friends permitted to contribute. Funds will be invested under account profiles being developed with banks, and the ministry estimated that maximum contributions could produce about EUR 64,000 by age 18 at a 3% return.
2026-09-07Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance details EUR 2.2 billion 2027 package including matched child investment accounts
Greece’s Ministry of National Economy and Finance detailed a package costing EUR 2.2 billion in 2027, combining tax relief, pension and public-sector support, lower labor costs and business investment incentives. The measures include reduced presumptive taxation and advance tax payments for the self-employed, a 0.5% cut in private-sector social contributions and a higher EUR 400 pensioner payment. A proposed child investment account will match private contributions up to EUR 1,200 a year with an equal state contribution.