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Greece Introducing Special Tax on Power Companies to Fund Electricity Subsidies

|Proposed Changes|Greece
Greece

In a speech given on 5 May 2022, Greek Prime Minister Kyriakos Mitsotakis announced a National Support Program that subsidizes additional electricity costs of lower and middle-income taxpayers. This includes retroactive subsidies of up to 60% of additional electricity charges from December 2021 to May 2022 for those with annual income of up to EUR 45,000, as well as an extension of subsidies of up to 50% of additional electricity charges for consumption above 300 KWh for May and June. From J…

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