24.4 C
New York
August 23, 2019
ECONOMY

Parliament’s final session ratifies abolition of tax allowance for wage earners and pensioners.

The last plenary session of the current parliament was concluded on Friday, with the ratification of the amendment to abolish the prelegislated reduction of the tax allowance for wage earners and pensioners.

The amendment cancels the reductions of untaxed income, due to come into force in 2020. The same amendment also cancels the positive measures that were due to go into effect in the same year.

The reduction of the tax-free allowance was expected to lead to an estimated decline in revenues of 1.92 billion euros in 2020 and 2.058 billion euros in 2021.

The health ministry’s bill concerning an agreement with the Stavros Niarchos Foundation for the upgrading of the public healthcare infrastructure was also ratified.

This was the final plenary before the July 7 general elections, pending a Presidential decree for the dissolution of parliament.

Related posts

1st Annual Eastern Mediterranean Energy Leadership Summit in Athens,

greek

Gov’t to reduce interest rate on outstanding social insurance payments

greek

LNG facilities at the south port of Patras get ministry approval

greek

Production of steel tubes more than doubled in 2018, ICAP survey says

greek

National Bank sells secured NPLs worth 900 million euros

greek

Monetary developments in the euro area: June 2019

greek