Tax-free income is expected to reach €22,000 under tax reform, up from the €20,500 provided in the bill, through a joint amendment by DISY, DIKO, DIPA and EDEK.
Representatives of the four parties met Finance Minister Makis Keravnos today and were briefed on changes the government will push to the tax reform bills following consultation. The parties, which hold a parliamentary majority, reached convergence on changes they will advance through their own joint amendments.
The ministry will submit changes raising the annual income ceiling for taxpayers to qualify for additional tax deductions, according to information obtained by Phileleftheros.
The income level allowing deductions will increase from €80,000 to €90,000, with the ceiling rising in stages based on the number of children.
For a second child, annual income increases to €100,000. For a third or fourth child, the ceiling rises to €150,000, and for more than four children, annual income increases to €200,000.
The parties will submit an amendment for scaled increases in tax deductions. The €1,000 deduction for one child will remain, whilst for two children the deduction increases to €1,250 and for three or more children deductions will be €1,500.
Deductions for serviced mortgage interest and rent will rise to €2,000. The parties will also submit an amendment to abolish stamp duty.
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