Incorporating European directives on taxes and cryptocurrencies, streamlining fines, tax relief and regulations for citizens and businesses.
In a new framework for modernizing tax administration and enhancing transparency in cross-border economic transactions, the Ministry of National Economy and Finance is promoting aa bill incorporating European directives on administrative cooperation in taxation, with a special focus on cryptocurrencies and the taxation of multinational enterprises. At the same time, as pointed out by the responsible State Secretary, Giorgos Kotsiras, targeted interventions are introduced to rationalise the framework of fines for businesses and professionals, as well as regulations with a social and economic footprint, such as tax reductions for specific professional categories and solutions for outstanding issues concerning employees of former large industrial units, with the aim of improving the overall relationship between the state, the market and citizens.
The bill strengthens institutional tools in the area of tax cooperation and at the same time resolves issues concerning society and the economy. This was stressed by Deputy Minister of National Economy and Finance, George Kotsiras, speaking today, Wednesday 6 May, at the Parliament’s Standing Committee on Economic Affairs on the draft law of the Ministry of National Economy and Finance entitled “Administrative cooperation in the field of taxation – Incorporation of Council Directive (EU) 2023/2226 of 17 October 2023 and Council Directive (EU) 2025/872 of 14 April 2025 amending Directive 2011/16/EU on administrative cooperation in the field of taxation, pension arrangements and other provisions“.
The transposition of the Directive
In his intervention, Mr. Kotsiras referred, first of all, to the transposition of the EU directives on cryptocurrencies and the corporate tax for multinationals, referring to the strengthening of digitalisation and the efforts made to combat tax evasion. This effort, he said, has brought concrete results to public coffers, yielding over 2 billion euros every year, which are returned to Greek society.
Then, the Deputy Minister of Economy and Finance focused on specific issues resolved by this bill, responding to requests from the market itself. In particular, he mentioned, inter alia:
– the rationalization of fines for businesses and professionals, which, he said, “adopts a request of the bodies representing accountants and tax advisors, but also business”
– in the regulation on tax relief for vendors at farmers’ markets
– in a provision on the tax treatment of former employees of the Skaramanga Shipyards
Continuous contact with market operators
As Mr. Kotsiras, “the State is here”, “it is close to society”. “We address the citizens, we listen and to the extent possible we improve the existing legislation.” “We are in constant contact with market players” and “we are trying to find solutions.”
In conclusion, the Deputy Minister of Economy and Finance expressed his satisfaction, as during the hearing of the stakeholders, the majority of those who spoke acknowledged that the bill resolves many issues that concern society, the citizen and the Greek economy.
