Glossary · Παρακράτηση φόρου
Tax withholding
At a glance
Tax withholding is the income tax your employer keeps back from each salary and pays to the tax office. It is an advance: your final tax comes out of your tax return the following year.
Your employer works out the tax for the year, as if you earned the same salary every month. It divides that tax by the salaries of the year, 14 or 12, and keeps back one part from each salary.
On the bonuses
On the Christmas bonus, the withholding is the same as on one salary. On the Easter bonus and on the holiday allowance, it is half of that on each.
Legal basis: Article 60 of the Income Tax Code (άρθρο 60 ΚΦΕ).