By Chrysostomos Tsoufis

2024 brings with it significant changes in taxation that it is not an exaggeration to argue that they affect in one way or another the totality of taxpayers.

-Undoubtedly the most important has to do with the taxation of 730,000 freelancers and the self-employed for which a minimum presumptive taxable income of 10,920 euros is established. An amount which increases up to 50,000 euros depending on the years of professional activity, turnover and salary costs. This presumptive income is defeasible, i.e. it can be disputed while a full exemption is provided in the cases of military service, imprisonment, illness, sergeant.

-At the same time the application fee is halved, to 325 euros, for all professionals without exceptions.

– About 1.3 million taxpayers (salaried, retired and farmers) with children will see a reduction in taxation them due to the €1000 increase in their tax-free allowance. The benefit ranges from 90 euros to 220 euros per year depending on the number of children.

– Changes are coming to those who have more than 3 properties and have them for short term rental. The tax system will consider them entrepreneurs, which means they have to open books. As is reasonable, they will be charged with the prescribed insurance contributions, property tax and VAT from the first property.

– Buying and selling real estate with cash is now a thing of the past. Any contract recording an advance, partial or full cash payment will be considered void and non-transferable

– The fine for cash transactions over 500 euros is increasing. From 100 euros that was with the previous regime, it is set to double the value of the transaction.

– Until February 29, all cash registers will be connected to POS

– The compulsory provision of POS is extended to the rest of the retail sectors (taxi, kiosks, street shops). At the same time, all consumer goods sectors, without exception, are obliged to provide their customers with the possibility of payment through the IRIS system

– A fee of 100 euros – 3000 euros is set for citizens who will report cases of issuing receipts from counterfeit cash registers through the “Appodixi” application.

– The reduced VAT rates on transport, tourism, culture, sports and goods related to public health are made permanent. Until June 30, 2024 (and we’ll see) the reduced VAT regime on coffee and drinks in restaurants and taxi fares is extended. On the contrary, the VAT rate of 24% on non-alcoholic beverages (soft drinks, carbonated waters, non-alcoholic beers) of the restaurant is reinstated.

– The electronic issuance of invoices by freelancers and businesses becomes mandatory.

– The transmission of all income and expenses to the myDATA platform is mandatory. The income to be declared from business activity cannot be less than the income that has been transmitted to the platform. Also, a business’s expenses that have not been passed on will not be deductible.

– By the end of 2024, the digital consignment note will be fully applied to all transports

– The accommodation tax is a thing of the past but is being replaced by the so-called climate crisis resilience fee which will charge 1.5€/day to all short-term rentals

– A maximum duration of 60 days is established for each different short-term rental

– The fines for not being registered in the short-term rental property register are increasing. From horizontal 5,000 euros, it is set at 50% of gross revenues with a minimum of 5,000 euros

– The tax reduction for property renovation is increased. The upper limit of expenditure, and therefore of tax reduction, remains at 16,000 euros for a period of 5 years, but materials will now be taken into account up to the amount corresponding to 1/3 of the costs for energy, functional and aesthetic upgrading services of the buildings. All costs must be derived from invoices that have been paid electronically and transmitted to AADE via myDATA.

– Sanctions for forgery, fuel smuggling or control obstruction are being tightened. The facility is sealed for 2 years. Also, the natural and legal persons of the sealed installation are ostracized for 2 years from the energy products trading area

– The payment of social and welfare benefits (child benefits, birth benefit, unemployment benefits) will now be made exclusively by debit card.
Taxes on capital accumulation (from 0.5% to 0.2%) and stock market transactions are reduced by 50%, to 1 per thousand