Critical tax and pension reform bill submitted in Parliament
The coalition government has submitted its tax and pension reform bill in Parliament, as planned. The bill will be debated…
The coalition government has submitted its tax and pension reform bill in Parliament, as planned. The bill will be debated among parliamentary committees on Monday, with a vote expected to take place by Tuesday 10 May.
With the tension between the government and opposition gradually escalating, the discussion on the bill is expected to generate heated debates in Parliament. On Thursday 20 April the Court of Auditors examined the bill and reported that aspects of it conflict with constitutional provisions.
Overall the bill will raise the annual revenue targets by about 1.7 billion euros. This derives from the revisions in the income tax and solidarity tax. With regards to pensions, the abolition of the ‘EKAS’ solidarity benefit as of 2020 will save 900 million euros on an annual basis. Criteria for qualifying for the EKAS will also become stricter.