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Greece to increase the Trade Levy in order to give Child Allowances to families

Self-employed, businesses and freelances will most probably have to pay the bill for better tax allowance for families with children. With an increase of the trade levy – currently at 500 euro per year, in addition to the regular taxes. this is the latest scenario leaked to the Greek press on Wednesday with reference to the new taxation system.

According to senior Finance Ministry source, the economic team considers the following:

– Increase of the trade levy which is currently 500 euro per year. The proposal has already been submitted for approval to the Troika.

– Increase of the child allowances for families with three or more children, also possible under the Troika approval. However for this increase equivalent measures of state revenues should be found. 

Rumors in the Greek press spoke today of the tax levy to be at 2,000 euro, something that was allegedly denied by “sources” of the Greek Financial Ministry.

The scenario to increase of trade levy caused angry reactions of self-employed and freelances on several economic forums who stated they cannot afford an increase, when with the new taxation law the tax-free amount will be scrapped, and they will pay taxes form the very first euro.”

New taxation system is precondition for Greece to receive the bailout disbursements.

The same FinMin source said that a mini taxation bill will be submitted to Parliament on 11. December 2012. The bill will contain direct budgetary interventions on how to tax the incomes of natural and legal persons.

“The big tax reform will be postponed for June 2013,” the source claimed.

PS Tired of new taxation system scenarios? There is still time till next June, though…


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  1. The tax increase is NOT a condition of the next bailout. The Greek government has been asked to balance its books. This is the method they choose. If the Troika agrees to this measure then yes, they are just as bad as the Greek political elite.