Glossary · Μείωση φόρου
Tax reduction
At a glance
The tax reduction is the amount under article 16 of the Income Tax Code that comes off the tax of employees and pensioners. It is €777 without children and rises with children. Above €12,000 of income it falls by €20 for every €1,000.
The reduction is the reason the minimum wage pays little tax. On a small income, the tax from the scale is smaller than the reduction, so it falls to zero.
Who does not get it
Profits from self-employment do not get the reduction. If you have both a salary and freelance income on service invoices (μπλοκάκι), you get the reduction only on the tax of your salary.
Legal basis: Article 16 of the Income Tax Code (άρθρο 16 ΚΦΕ).