Breaking news

Tax Authority to Administer Refunds on Excess Healthcare Contributions Over €180,000

Overview Of The New Refund Process

The Health Insurance Organization (OAY) has announced that any contributions exceeding €180,000 paid into the General Healthcare System Fund (ΓΕΣΥ) for contribution years commencing on or after January 1, 2025 will be refunded directly by the Tax Office, in accordance with the Tax Confirmation and Collection Law. This marks a significant shift in the administrative process, transferring responsibility from OAY to the Tax Office for these specific cases.

Refund Procedures And Guidelines

For contributions pertaining to the year that ends on or before December 31, 2024, the refund process will continue to be handled by OAY based on the existing decisions on refunds for amounts exceeding the maximum contributions.

Extended Submission Period Under Revised Regulations

The announcement further clarifies that, in light of the amendments detailed in the 2025 decisions published in the Official Gazette on September 5, 2025, the deadline for submitting refund requests to OAY has been extended. Specifically, each refund claim must now be submitted within six years after the conclusion of the contribution year in question.

Accessing The New Refund Form

Interested parties seeking to file a refund claim for contributions exceeding €180,000 can obtain the new form directly from the OAY website under the GEΣΥ/Financial and General Accounting section. Detailed instructions and a direct hyperlink are provided for ease of access.

Implications For Contributors

This regulatory update streamlines the refund process and reinforces a robust oversight mechanism in line with current fiscal policies. Organizations and individuals alike should note these changes to ensure compliance and timely submission of claims, thereby avoiding any potential administrative delays.

MENA Venture Capital Stable As International Investor Activity Shifts

A Data-Led Analysis Of Investor Behavior In A War-Affected Region

Venture capital activity in the Middle East and North Africa remained relatively stable one month after the escalation of regional conflict. Early data, however, indicate changes in investor behavior rather than immediate shifts in funding totals. Initial signals are visible in investor participation, capital allocation, and deal pipeline activity.

Venture Markets And The Lag In Response

Funding announcements reflect decisions made months earlier, meaning that today’s figures do not capture the full impact of current events. Investors typically adjust strategies gradually, signaling future shifts long before they are immediately visible in total funding numbers.

International Capital As The Key Pressure Indicator

Participation of international investors remains a key indicator across the MENA venture market. Global capital has historically accounted for a significant share of funding in the region. Following global interest rate increases, international participation declined through 2023. This shift was reflected in lower cross-border deal activity, more cautious capital deployment, and longer fundraising timelines.

Implications For The Broader Startup Ecosystem

Changes in international investor activity affect multiple parts of the startup ecosystem. A recovery in participation was recorded in 2024 and continued into 2025, supporting funding activity and cross-border investment. If uncertainty persists, potential effects include slower investment decisions, reduced cross-border engagement, and extended fundraising cycles. International capital also plays a role in supporting larger funding rounds and access to global networks.

Next Steps For Stakeholders

International capital represents one of several factors shaping venture activity in the region. Its movement often precedes changes in late-stage funding, startup formation, and exit activity. Investors, policymakers, and ecosystem participants rely on data and scenario analysis to assess these trends and adjust strategies.

For A Deeper Insight

Further analysis on venture activity, capital flows, and geopolitical impact across the region is available in the full MAGNiTT report.

The Future Forbes Realty Global Properties
Uol
Aretilaw firm
eCredo

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter