Greek Publishes Reform Law Including Tax Rate Cuts

Greece published Law 4472 in the Official Gazette of 19 May 2017, which includes several reform measures in relation to the medium-term budget targets for 2018-2021. Measures include tax cuts as follows:

• A reduction in the corporate tax rate from 29% to 26%, except for credit institutions, which will remain subject to the 29% rate;
• A reduction in the first bracket individual income tax rate from 22% to 20% resulting in the following brackets and rates:
  • up to EUR 20,000 - 20%
  • over EUR 20,000…