Payroll tax

Greece is edging very close to both the European average and that of Organization for Economic Cooperation and Development countries in non-salary costs with the reduction of social security contributions by one percentage point that will apply from the beginning of 2025, for both private and public employees.

Salaries may have risen in Greece in 2023, but the tax burden has also increased. For some the rise in wages has taken them into a higher tax bracket, while for most the burden is a result of tax brackets not being adjusted for inflation.

Since joining the European Union in 2007, Bulgaria has become a hotbed for foreign investors and multinational companies. Thanks to its cheaper but highly skilled labor and a hungry consumer base, it's not surprising that companies from all over the world are interested in expanding to this country.

Greece's taxes and social security contributions put this country second among the 36 member-states of the Organization for Economic Cooperation and Development (OECD) in terms of dues to the state for workers with children.

Greek workers, retirees and self-employed professionals will see a significant reduction in their tax bills in 2020, says a bill that reduces the lowest income taxes to 9 percent from 22 percent for income to 10,000 euros, Kathimerini reported.

The bill will also include provisions for construction and tax cuts on business profits.

Taxpayers in Greece have been seeing their incomes shrink each year due to the taxes and social security contributions that employers and workers have to pay, and Organization for Economic Cooperation and Development (OECD) data point to the growing deductions of crisis-riven Greeks, in contrast to the trend in other member-states.

The Serbian government announced this on Friday.

In this way, the government will continue to work on creating a dynamic and competitive economy by further strengthening and developing the sector of small and medium-sized enterprises, it announce on its website.

A report released Tuesday shows that Greece is among the countries of Organization for Economic Cooperation and Development (OECD) with the highest tax wedge - the difference between before-tax and after-tax wages, including the tax paid by both the employee and the employer.