Greek Parliament Debates Thessaloniki Fair Tax and Social Package

Greece has submitted a bill to parliament aimed at strengthening available income, savings, and investments. The legislation includes tax reliefs, reductions in social security contributions, changes to minimum taxable income for professionals, property interventions, and increases in social benefits. The measures were announced at the Thessaloniki International Fair.

The bill was tabled on Wednesday, November 4, 2026, by Finance Minister Kyriakos Pierrakakis. Parliamentary debate on the bill is currently underway in the plenary session.

“The bill includes interventions announced at the Thessaloniki International Fair to strengthen households and businesses.”

Some measures apply immediately to the 2026 tax year, while others take effect from January 1, 2027, or are completed by 2028. Starting April 1, 2027, the unemployment insurance contribution paid by employees will be reduced by 0.5 percentage points, from 1.20 percent to 0.70 percent. This reduction applies exclusively to the employee side.

Social benefits will see several increases. The annual financial assistance for vulnerable social groups will rise from 300 euros to 400 euros starting in 2026, with income and asset criteria abolished for pensioners over 65. Certain disability benefits and allowances will be adjusted annually starting January 1, 2027.

The birth allowance for the fourth child will increase to 4,500 euros, with an additional 1,000 euros for each subsequent child. This change will apply retroactively to births from January 1, 2026. The bill also includes a reduction in VAT on female hygiene products and adult incontinence pads.

A new Minor Individual Investment Account will be established with a state contribution of up to 1,200 euros annually. Funding arrangements are included for preschool education and creative occupation of children.

The legislation also covers property interventions and financing regulations for early childhood education.