Taxing Wages 2023

Greece

Abstract

This chapter includes data on the income taxes paid by workers, their social security contributions, the family benefits they receive in the form of cash transfers as well as the social security contributions and payroll taxes paid by their employers. Results reported include the marginal and average tax burden for eight different family types.

Methodological information is available for personal income tax systems, compulsory social security contributions to schemes operated within the government sector, universal cash transfers as well as recent changes in the tax/benefit system. The methodology also includes the parameter values and tax equations underlying the data.

The national currency is the Euro (EUR). In 2022, EUR 0.96 was equal to USD 1. In 2022, the estimated gross earnings of the average worker are EUR 19 912 (Secretariat estimate).

1. Personal income tax system

1.1. Central government income tax

1.1.1. Tax unit

Individuals are subject to national income tax.

Individuals who are Greek tax residents are subject to income tax in Greece on their worldwide income earned in a certain tax year, whereas non-residents are subject to tax in Greece only on income sourced in Greece irrespective of their nationality, or place of domicile. Moreover, an individual whose stay in Greece exceeds183 days cumulatively in a twelve month period is considered as a tax resident in Greece and is subject to tax of his/her worldwide income irrespective of the individual’s nationality. This does not apply in the case of individuals who are in Greece exclusively for tourism or medical, therapeutic or similar purposes of private nature and their stay does not exceed 365 days, including short periods of stay abroad. Due consideration is given to bilateral conventions, for the elimination of double taxation, their provisions superseding domestic law.

Individuals who have completed 18 years of age are obliged to file an income tax return regardless whether they have taxable income or not.

Spouses file a joint income tax return but each spouse is liable for the tax payable on his or her share of the joint income. Persons who have entered into a civil union – partnership can also file a joint income tax return. In this case, civil union partners have the same tax treatment as married couples. The tax return can be filed separately, if at least one of the spouses opts for it, with an irrevocable declaration for each tax year until 28 February of the year of submission of the return. This option is binding for the concerned tax year and also applies to the other spouse. Especially for tax year 2021, the deadline for submitting the irrevocable declaration was set at 2 March 2022.

Regarding income derived by minor children, the parent who has the custody is liable for filing a tax return. The income of minor children is added to the income of the parent who has the custody and is taxed in the name of the parent who is in principle liable for tax filing. This provision does not apply to the following types of income, in respect of which the minor child has a personal tax obligation: a) employment income and b) pensions due to the death of his father or mother.

Losses incurred by a spouse or civil union partner cannot be set off against the income of the other spouse or partner. Spouses or civil union partners file a return separately if (a) they have been divorced or have terminated the civil partnership at the time of the tax filing or (b) one of the spouses or civil union partners is bankrupt or has been subject to guardianship. The taxpayer’s spouse can be considered as a dependent member, provided that he/she does not have any taxable income.

As dependent members, related to the taxpayer, are regarded single children under the age of 18, adult children up to the age of 25 years studying at the university or serving their military service or registered as unemployed to the Manpower Employment Organisation (OAED); taxpayers are deem to be in charge for their ascendants and/or their spouses’ relatives (up to the 3rd degree) who are orphans provided that they live with them and their annual taxable income does not exceed the amount of EUR 3 000 (alimony and disability benefits and similar allowances are not included). The taxpayer children and siblings of both spouses with a disability of at least 67% who are single or divorced or widowed: are also considered as dependent members, unless their annual income exceeds the amount of EUR 6 000 (not including alimony and disability benefits and similar allowances).

1.1.2. Tax allowances and tax credits

1.1.2.1. Standard tax reliefs

• Social security contributions: all compulsory social security contributions and optional contributions to legally constituted funds are fully deductible from taxable gross income.

• Tax is reduced for employees and pensioners, for each tax bracket, as follows:

  • by EUR 777 for annual income up to EUR 12 000, for taxpayers with no dependent children;

  • by EUR 810 for annual income up to EUR 12 000 for taxpayers with one dependent child;

  • by EUR 900 for annual income up to EUR 12 000 for taxpayers with two dependent children;

  • by EUR 1 120 for annual income up to EUR 12 000 for taxpayers with 3 dependent children;

  • by EUR 1 340 for annual income up to EUR 12 000 for taxpayers with 4 dependent children;

  • for taxpayers with more than 4 dependent children, the above mentioned tax credit is increased by EUR 220 per child;

  • for income exceeding EUR 12 000, the aforementioned tax credit is reduced by EUR 20 for every EUR 1 000 of taxable income.

    If the amount of tax is less than these amounts, the reduction of tax is limited to the relevant amount of tax.

In order to maintain the above tax reduction under this, the taxpayer is required to make payments of acquiring goods and receiving services within the country or in Member States of the European Union or EEA, which have been paid through electronic payments, the minimum amount of which is 30% of taxable income, and up to EUR 20 000. If this amount of electronic payments is not reached, a penalty of 22% is imposed to the remaining amount. The calculation of the income does not include the amount of the solidarity contribution of article 43A and the amount of alimony given to the divorced spouse or a civil union partner and/or a dependent child, if it is paid by electronic means of payment. In the case that the expenses incurred concern PIT payments and Single Property Ownership Tax (ENFIA), loan obligations to financial institutions and rents exceeding 60% of the income, the required expenses are limited to 20% of taxable income; this applies provided that such expenses have been effected with electronic means of payment.

The amount of tax, as calculated for each tax bracket, is further reduced by EUR 200 for the taxpayer as well as for each dependent member, provided that the taxpayer or his/her dependents are disabled (over 67%) or disabled soldiers or military personnel injured in the course of their duties or war victims or victims of terrorist attacks or in case they receive pension by the State in the capacity of war victims or on grounds of disability.

Note: Foreign tax residents are not eligible to tax deductions, unless they are tax resident in an EU/EEA member State and (a) derive at least 90% of their total income from sources in Greece or (b) prove that their taxable income is so low that they would be entitled to tax reduction under the tax legislation of the State of their tax residency.

1.1.2.2. Non-Standard tax credits

The payable amount of tax is reduced by 20% on the donations to certain bodies, as well as to political parties, party alliances and candidates for the National Parliament and the European Parliament, if donations exceed the amount of EUR 100 during the tax year. The total amount of donations cannot exceed 5% of the taxable income. Especially for donations to charitable institutions and registered Civil Society Organizations, the amount of tax is reduced by 40% on the amounts of donations, as long as the donations exceed during the tax year the amount of EUR 100 and are deposited in special accounts held for this purpose at a bank legally operating in an EU or EEA Member State. The total amount of donations in this case cannot exceed 40% of the taxable income.

1.1.2.3. Exemptions

Certain types of income, as specified in the Income Tax Code are exempt from the tax.

Examples:

• income earned in the performance of their duties by foreign diplomatic representatives or consulate agents, employees of embassies and consulates that have the nationality of the represented State as well as by individuals working in the EU Institutions or other International Organizations that have been installed under an international treaty applied by Greece.;

• alimony received by the beneficiary according to the Court adjudication or notary Document;

• all forms of pensions provided to war victims and their families, as well as to soldiers and military personnel injured in the course of their duties in times of peace;

• benefits and similar allowances provided to special categories of disabled persons;

• salaries, pensions etc. paid to disabled persons (at least 80%);

• unemployment benefits granted by the National Employment Organisation (OAED) provided that the total annual income of the beneficiary does not exceed the amount of EUR 10 000;

• financial aid to recognized political refugees, to personsresiding temporarily in Greece for humanitarian reasons and to persons that have submitted the relevant application to the competent Greek authorities, paid by bodies carrying out refugee aid schemes financed by the UN and the EU;

• the benefit for hazardous labour provided to employees working in the armed forces, the police, the fire and port departments as well as the special allowance to medical, nursing and ambulance staff up to 65%;

• the fees paid by the World Association of Disabled Artists (VDM.FK) to the members of foot and mouth painters, who are tax residents of Greece, exclusively for the work of painting paid by the Union with exchange;

• pensioners’ social solidarity allowance (EKAS-EFKA );

• income from employment obtained by foreign officers and low crew members of merchant ships, who are foreign tax residents, on merchant ships with Greek flag, which perform exclusively international trips.

1.1.2.4. Tax calculation

Taxable income is derived from the following sources:

a) income from employment and pensions;

b) income from business activity ;investment income which includes income from dividends, interest, royalties and income from immovable property (rental income);

c) income from capital gains, which includes income deriving on transfer of real estate or securities.

Net income is computed separately within each category with tax rules that vary across income categories.

The taxpayer is subject to an alternative minimum tax when his/her imputed income is higher than his/her total declared income. In this case, the difference between imputed and actual income is added to the taxable income. Imputed income is calculated on the basis of the taxpayer’s and his/her dependents’ living expenses.

Income from employment is subject to withholding tax. The tax is withheld by the employer and is calculated by applying the taxpayer’s progressive income tax schedule. The employer calculates the withholding tax on the basis of the taxpayer’s annual net salary (net of social security contributions). The resulting tax is the annual tax due, 1/14 of which constitutes the monthly withholding tax for the private sector’s employees (every employee in the private sector receives 14 monthly salaries per year, i.e., 12 monthly salaries plus one salary as Christmas bonus, ½ salary as Easter bonus and ½ salary as summer vacation bonus). For the employees of the public sector, the monthly withholding tax is calculated as 1/12 of the annual tax due, because of the fact that bonuses in the public sector have been eliminated. If the taxpayer's final tax liability (derived from the annual declared income) exceeds the aggregate of the amounts already withheld or prepaid, the remaining tax is generally payable in three equal bimonthly instalments. Any excess tax paid or withheld will be refunded.

1.1.3. Rate schedule

Depending on the income category the following tax schedules apply:

Income from employment and pensions is pooled together with income from business activity and is taxed at the following rates:

 

Income bracket (EUR)	Tax rate (%)	Tax bracket (EUR)	Total amount
			Income (EUR)	Tax (EUR)
10 000	9%	900	10 000	900
10 000	22%	2 200	20 000	3 100
10 000	28%	2 800	30 000	5 900
10 000	36%	3 600	40 000	9 500
Excess	44%

The above tax scale does not apply for employment income acquired by:

• Officers working in merchant ships, whose income is taxed at a 15% flat rate.

• Low- crew members working in merchant ships, whose income is taxed at a 10% flat rate.

• Pilots, co-pilots and aircraft engineers who are tax residents in Greece for their monthly compensation, which is taxed at a tax flat rate of 15% and whose air company has a tax residency or permanent establishment in Greece,

• Members of the Independent Board of Refugees Appeal for their monthly compensation, which is taxed at a tax flat rate of 15%.

The aforementioned categories of employment income are taxed independently, with exhaustion of the tax liability of their beneficiaries.

For deductions see above section 1.1.2.1.

Income from agricultural business is taxed independently but with under the same tax schedule. The previously described tax credit is granted to farmers as well. In case a farmer is earning income from employment / pension, only one tax credit is given.

Income from dividends is taxed at a 5% flat rate, income from interest is taxed at a 15% flat rate and income from royalties is taxed at a 20% flat rate.

Income from immovable property (Rental Income) is taxed at the following rates:

 

Income	Tax Rate
0-12.000	15%
12.001 – 35.000	35%
35.001-	45%

From 1 January 2017, income derived from short term rentals of sharing economy (if it is not considered as income from business activity) is taxed with the above tax scale.

Income from capital gains is taxed at a 15% flat rate.

In the total taxable income, the Special Solidarity Contribution is additionally imposed. Income up to EUR 12 000 is not subject to the solidarity contribution. The Special Solidarity Contribution is levied, taking into account the total income from salaries and pensions, business activity, capital, capital transfer, capital gains, taxable or exempt, real or assumed The Special Solidarity contribution applies to income exceeding EUR 12 000 with the following marginal rates:

Solidarity Contribution Marginal Tax Rates

 

Income	Tax Rate
0 – 12.000	0%
12.001 - 20.000	2.2%
20.001 - 30.000	5.00%
30.001 - 40.000	6.50%
40.001 - 65.000	7.50%
65.001 - 220.000	9.00%
>220.000	10.00%

Due to the Covid-19 pandemic, the solidarity contribution for private sector employees has been suspended for tax years 2021 and 2022. The suspension also applies forincome from business activity, investment and capital gains for tax years 2020 and 2021.

1.1.4 Income tax return submission and tax payment for tax year 2021

Income tax returns are timely submitted by 29 July 2022 and the tax is paid in eight (8) equal, monthly installments, of which the first two (2) are paid due until the last working day of August 2021 and each of the following within the last working day of six (6) next months in three (3) equal bimonthly installments, of which the first is paid until the last working day of the month of July and each of the following until the last working day of the months of September and November 2022.

1.2. State and local income taxes

There are no local income taxes in Greece. Municipalities (the local authorities) receive 20% of the national income tax revenues.

2. Mandatory Social Security Contributions to schemes operated within the Government Sector

The great majority of individuals who are employed in the public and private sector and render dependent personal services are subject to a mandatory principal and direct insurance at the Electronic National Social Security Fund (e-EFKA) for their main pension and health care.

Apart from the main contribution, e-EFKA compulsorily collects contributions for other minor Funds created for the employee’s benefit (Unemployment Benefits Funds, etc.).

The average rates of contributions payable by white-collar employees as a percentage of gross earnings are as follows (%):

From January 1st 2022 to 31 December 2022

For work in private sector (full time)

 

	Employer	Employee	Total
1. National Social Security Fund ( e- EFKA) – Main Pension	13.33	6.67	20.00
2. e-EFKA- Supplementary Pension ( exETEAEP) ) (1.1.22-31.5.22)	3.25	3.25	6.50
e-EFKA- Supplementary Pension ( exETEAEP) (1.6.22 and on)	3.00	3.00	6.00
3. National Social Security Fund (e- EFKA) - Healthcare Coverage	4.55	2.55	7.10
4. Other Funds	1.41	1.65	3.06
Total	22.54	14.12	36.66

For blue-collar workers engaged in heavy work (unhealthy, dangerous etc.), higher contributions are due (17,57% paid by the employee and 24,69% paid by the employer), so that such individuals become entitled to pension five years earlier than other workers (2.20% for e-EFKA- Main Pension and 1.25% for e- EFKA - Supplementary Pension, paid by the employee, and 1.40% for e-EFKA- Main Pension and 0.75% for e-EFKA -Supplementary Pension, paid by the employer). In the industrial sector, a contribution at a rate of 1%  is added as an occupational risk contribution which is paid by the employer, since these workers because of their difficult employment conditions are vulnerable to an increased risk of labour accidents and occupational diseases.

For work in private sector (part time)

 

	Employer	Employee	Total
1. National Social Security Fund ( e- EFKA) – Main Pension	13.33	6.67	20.00
2. e-EFKA- Supplementary Pension ( exETEAEP) )(1.1.22-31.5.22)	3.25	3.25	6.50
e-EFKA- Supplementary Pension ( exETEAEP) (1.6.22 and on)	3.00	3.00	6.00
3. National Social Security Fund (e- EFKA) - Healthcare Coverage	4.55	2.55	7.10
4. Other Funds	1.89	2.07	3.96
Total	23.02	14.54	37.56

For work in public sector (full time)

 

	Employer	Employee	Total
1. National Social Security Fund ( e- EFKA) – Main Pension	13.33	6.67	20.00
2. e-EFKA- Supplementary Pension ( exETEAEP) (1.1.22-31.5.22)	3.25	3.25	6.50
e-EFKA- Supplementary Pension ( exETEAEP) (1.6.22 and on)	3.00	3.00	6.00
3. National Social Security Fund (e- EFKA) - Healthcare Coverage	4.55	2.55	7.10
4. Other Funds	3.20	2.86	6.06
Total	24.33	15.33	39.66

For work in public sector (part time)

 

	Employer	Employee	Total
1. National Social Security Fund ( e- EFKA) – Main Pension	13.33	6.67	20.00
2. e-EFKA- Supplementary Pension ( exETEAEP) ) (1.1.22-31.5.22)	3.25	3.25	6.50
e-EFKA- Supplementary Pension ( exETEAEP) (1.6.22 and on)	3.00	3.00	6.00
3. National Social Security Fund (e- EFKA) - Healthcare Coverage	4.55	2.55	7.10
4. Other Funds	3.68	3.28	6.96
Total	24.81	15.75	40.56

It should be noted that the amount of the maximum insurable earnings for calculating the monthly insurance contribution of employees and employers is set to EUR 6 500.

The contribution for lawyers and engineers providing dependent services (Law 4756/2020, art. 35) of the Supplementary Insurance Branch of the former ETEAEP from 1 January 2020 until 31 May 2022 is a fixed sum of EUR 42‎, EUR 51 or EUR 61 per month, depending on the respective insurance class level. From 1-6-2022 the above sums are reduced to 39, 47, 56€ respectively. The insured persons are subject, from 1 January 2020, to the first insurance class, with the obligation to contribute EUR 42 (39 from 1-6-22) per month, while from 1 July 2020 onwards they are entitled to opt for their insurance class. This contribution is shared between the lawyer or engineer and their employer.

From 1.1.2022, new entrants in social security are subject to the new Hellenic Auxiliary Pensions Defined Contributions Fund (TEKA). Already insured may optionally insure in TEKA, on the condition they are born from 1/1/1987 onwards. The contributions rates and categories are the same as for the Branch of Supplementary Insurance of e-EFKA (ex-ETEAEP)

For the former Lump Sum section of ex-ETEAEP, the contribution and the monthly basis on which the contribution is calculated, for employees first insured before 1992, is determined by the social security body which was integrated into ex-ETEAEP. The contribution for employees first insured after 1992, for the former Lump Sum of ex- ETEAEP is set at 4%. The monthly basis, on which the contribution is calculated, is the same basis amount as for e-EFKA.

Insurance contribution for the engineers, lawyers and doctors providing dependent services and insured at the former Lump-sum section of ex-ETEAEP is calculated from 1 January 2020 as a fixed amount of EUR 26, EUR 31 or EUR 37 per month, depending on the respective insurance class. The insured persons are subject to the first insurance class, onwards they are entitled to opt for their insurance class. The contribution for lawyers is shared between the lawyer and his/her employer.

All these social security contributions are fully deductible for income tax purposes.

3. Universal Cash Transfers

3.1. Transfers related to marital status

According to the National General Collective Labour Agreement, a marriage allowance, which is set at a rate of 10% of the gross salary, is granted only to workers employed by employers that belong to the contracting employer organisations1. For public servants no marriage benefit is granted.

3.2. Transfers for dependent children

According to the Law 4512/2018, the “Single children support allowance” is calculated according to the number of dependent children as well as the household equivalent income category.

The equivalence scale assigns a value of 1 to the first household member, of 1/2 to the spouse and of 1/4 to each dependent child. Especially, for single parent families, a value of ½ is assigned to the first dependent child and a value of ¼ to each additional child.

Households that are entitled to the allowance are divided into three income categories according to their income:

a) Household equivalent income of < EUR 6 000: monthly allowance of EUR 70 for the first child, EUR 70 for the second child and EUR 140 for every additional child.

b) Household equivalent income of EUR 6 001 – 10 000: monthly allowance of EUR 42 for the first child, EUR 42 for the second child and EUR 84 for every additional child.

c) Household equivalent income of EUR 10 001 – 15 000: monthly allowance of EUR 28 for the first child, EUR 28 for the second child and EUR 56 for every additional child.

4. Main Changes in the Tax/benefit System since 2016

The changes in the tax and benefit system since 2016 include the following:

• A new income tax scale was introduced with Law 4646/2019 for tax years 2020 and onwards, reducing the tax rate for the lower tax bracket (income up to EUR 10,000) from 22% to 9%; for the calculation of tax reduction, s. 1.1.2.1.

• Social security contributions have been reduced since 2020 by 3.9 %. Since 1 June 2022, supplementary pension contributions are reduced, by an equal percentage both for employers and employees, from 6.5 % to 6 % in total (s. table in Section 2).

4.1. Changes to labour taxation due to the COVID pandemic in 2020 and 2021

A monthly special tax – free allowance has been granted to employees of enterprises affected by the coronavirus crisis, whose labour contracts have been suspended based on specific NACE codes. A tax-free monthly fee was also provided for private practitioners employed under the emergency situation of the COVID pandemic in public hospitals.

5. Memorandum items

5.1. Identification of an AW and method of calculations used

Methodological note for the estimation of the average annual earnings per employee, for the period 2000 – 2018

Terminology and coverage

The average annual earnings below refer to full time employees for Sectors C to N of ISIC Rev.3.1, before 2008, and for Sectors B to N including Division 95 and excluding Divisions 37, 39 and 75 of ISIC Rev. 4, for 2008 onwards.

Data sources

In the estimation procedure of the average annual earnings per employee, for the period 2000-2018 the following data are taken into account:

• Annual earnings and number of employees, as derived from the Structure of Earnings Survey (SES), of the years 2002, 2006, 2010, and 2014.

• Hours worked and annual average number of employees, as derived from the Labour Force Survey (LFS), of the years 2000 – 2018.

• Average annual earnings indices, as derived from the Indices on Quarterly Labour Cost Survey, of the years 2000 – 2018.

Annual Gross earnings per full time employee 2000-2021 Greece

Year	NACE Rev 2 classification
2000	15.459
2001	15.715
2002	17.359
2003	19.240
2004	21.446
2005	22.012
2006	23.800
2007	23.935
2008	23.849
2009	24.569
2010	24.156
2011	23.929
2012	23.309
2013	21.101
2014	21.322
2015	20.494
2016	20.033
2017	19.913
2018	19.924
2019	20.243
2020	18.834
2021	19.614

Note: The Average gross Annual Earnings per full time employee for the period 2000 to 2021 includes:

-The special payments for shift and night work, as well as work during weekends and holidays;

-The total annual bonuses as well as those that are regularly paid on a monthly basis, the 13th salary Christmas salary, where applicable) and 14th salary (Easter and vacation payments, where applicable)

-The annual bonuses based on productivity;

-The education and working time allowance;

-The marriage and children allowance and excludes :

• The annual payments in kind: foods, drinks, footwear, clothes, accommodation, business cars provided, mobile phones, etc;

-The annual premiums related to profit-sharing schemes

The data for 2019 and onwards will be revised when the final results of the SES 2022 will be available.

Data in bold refer to data from SES 2002, 2006, 2010, 2014 and 2018.

It should be noted that the data with reference years 2000 - 2005 are different from those of the succeeding years with regard to the source that was used for the calculation of the LCI_Wages. For the years 2000 - 2005 the index was calculated on the basis of data from National Accounts deriving from administrative sources, while for the years 2006 - 2021 the calculation of LCI_Wages was based on the quarterly Labour Cost Survey.

Source: ELSTAT

5.2. Main employers’ contributions to private pension, health, and related schemes

Contributions to private pension and sickness schemes made by employers are not added to employees’ gross earnings for tax purposes (but they are subject to special taxation entailing extinction of tax liability). Since these contributions are not obligatory for employers, no data is provided by the National Statistical Service of Greece. Very few employers have adopted such additional insurance schemes.

2022 Parameter values

 

Average earnings/yr	Ave_earn	19 912	Secretariat estimate
Tax credit	Child_cred	0
Rates of family subsidies
paid by employers	Wife_sub	0.1
children (up to 3)	Child_sub	0
Income tax schedule	Tax_sch	0.09	10000
		0.22	20000
		0.28	30000
		0.36	40000
		0.44
Tax deduction	tax_cred	777
	tax_cred_1dc	810
	tax_cred_2dc	900
	tax_cred_3dc	1120
	tax_cred_4dc	1340
	num_ch_over4	1
	tax_cred_over4	220
	tax_cred_5dc	1560
	tax_cred_thrsh	12000
	tax_cred_red	0.02
Solidarity contribution (Only for Employees of Public Sector Tax year 2021))	Solidarity_sch	0	12000
		0.022	20000
		0.05	30000
		0.065	40000
		0.075	65000
		0.09	220000
		0.1
Social security contributions	SSC_rate	0.1397
	SSC_rate_empr	0.2239
	SSC_ceil	91000
	SSC_ceil_use	1
Single children support allowance	Child_all	0	840
		6000	504
		10000	336
		15000	0
	Spouse_weight	0.50
	Child_weight	0.25

2021 Tax equations

The equations for the Greek system in 2021 are mostly on an individual basis. The level of gross earnings for the principal earner is increased by the spouse and child subsidy paid by the employer.

The functions which are used in the equations (Taper, MIN, Tax etc) are described in the technical note about tax equations Variable names are defined in the table of parameters above, within the equations table, or are the standard variables “married” and “children” A reference to a variable with the affix “_total” indicates the sum of the relevant variable values for the principal and spouse And the affixes “_princ” and “_spouse” indicate the value for the principal and spouse, respectively Equations for a single person are as shown for the principal, with “_spouse” values taken as 0.

 

	Line in country table and intermediate steps	Variable name	Range	Equation
1	Earnings	earn_princ	P	Ave_earn*(1+Married*Wife_sub+ MIN(Children,3)*Child_sub)
		earn_spouse	S	Ave_earn*(1+Married*Wife_sub+ MIN(Children,3)*Child_sub)
2	Allowances:	tax_al	B	SSC
3	Credits in taxable income	taxbl_cr		0
4	CG taxable income	tax_inc	B	Positive(earn-tax_al)
5	CG tax before credits	CG_tax_excl	B	Tax(tax_inc,tax_sch)-Low_rate *Positive(MIN(Effect_low_band-Low_thrsh,tax_inc-Low_thrsh))
	Solidarity contribution	sol_contr	B	=Solidarity(earn-SSC,Solidarity_sch)
6	Tax credits :	tax_cr	B	Positive(IF(Children>0, tax_cred_1dc*(Children=1)+tax_cred_2dc*(Children='2)+tax_cred_3dc*(Children>2), tax_cred)-(INT(Positive(earn-tax_cred_thrsh)'/1000)*tax_cred_red))
7	CG tax	CG_tax	B	Positive(CG_tax_excl-tax_cr)+sol_contr
8	State and local taxes	local_tax	B	0
9	Employees' soc security	SSC	B	IF(SSC_ceil_use=1,SSC_rate*MIN(earn,SSC_ceil),SSC_rate*earn)
11	Cash transfers
		fam_netinc	B	(earn – CG_tax – SSC)/(1+IF(Married>0,(Married*Spouse_weight)+(Children*Child_weight),min(children,1) *Spouse_weight+positive(children-1)*Child_weight))
		cash_trans	B	VLOOKUP(fam_netinc,Child_all,2)*Children
13	Employer's soc security	SSC_empr	B	IF(SSC_ceil_use=1,SSC_rate_empr*MIN(earn,SSC_ceil),SSC_rate_empr*earn)

Key to range of equation B calculated separately for both principal earner and spouse P calculated for principal only (value taken as 0 for spouse calculation) J calculated once only on a joint basis.

Note

← 1.  Namely the Hellenic Federation of Enterprises, the Hellenic Confederation of Professionals, Craftsmen & Merchants, the National Confederation of Hellenic Commerce and the Association of Greek Tourism Enterprises.