In a landmark decision, the Parliament has approved a comprehensive tax reform designed to forge a fairer, more modern, and competitive fiscal system. In a televised address, Nikos Christodoulidis announced that the transformation will substantially reduce the tax burden and enhance disposable income for citizens.
Clear Government Strategy and Vision
The Head of State underscored that, from day one in office, the administration has pursued a meticulously crafted plan with explicit priorities and a robust ideological framework rooted in social liberalism. This strategic focus aims to build a state that is not only economically potent, but also socially responsive and resilient.
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Modernization Through Structural Reforms
The President emphasized that a central tenet of the new government is the modernization of a system rooted in the 1960s. By implementing bold structural reforms, the initiative targets long-standing inefficiencies, enhances transparency, and rebuilds the bond of trust between the state and its citizens.
Boosting Disposable Income and Competitiveness
The tax reform emerges as a pivotal milestone for the nation’s future. Key elements include setting an untaxed income threshold at €22,000 and introducing additional deductions tailored to household composition—up to an extra €10,000 for families with two children. Moreover, the policy reduces the dividend tax from 17% to 5%, creating an attractive fiscal environment for business investments and supporting enterprises across the country.
Balancing Social Justice With Economic Competitiveness
This reform not only supports families and strengthens the middle class, but it also enhances the daily lives of citizens by realigning the balance between social justice and economic competitiveness. By easing the tax load and increasing available income, the government is poised to drive growth and investment across multiple sectors.
Conclusion: A Promising Future for Citizens
With reliability, institutional gravitas, and targeted reforms, the government is effecting changes that promise to benefit households, families, the middle class, and businesses alike. The new tax framework represents a forward-thinking vision for a modern, equitable economy.
