Finance Ministry promoting tax incentives in labour, environment, A/V productions

The Finance Ministry is providing tax incentives in the three sectors – labour, the environment and audiovisual productions – that are contributing significantly to the revival of the Greek economy, Deputy Finance Minister Katerina Papanatsiou told Athens-Macedonian News Agency (ANA) on Monday.

In labour, besides already applied new rules, soon businesses will be provided tax incentives to hire young unemployed people and those who have been out of work for a long time. Such new jobs will increase by 50 percent the tax-deductible insurance contributions employers pay on net taxable income, Papanatsiou said.

A financial incentive to conserve water and improve energy efficiency has been legislated by a ministerial decision related to the environment also, she said. The amortisation factors for investment expenses will be doubled in this particular field, encouraging investments, promoting cyclical economy and reducing greenhouse emissions.

In terms of audiovisual productions, Papanatsiou told ANA, a ministerial decision will provide a 30-percent tax deduction in selected expenditures by producers obliged to pay taxes in Greece.

Overall, the government is examining several measures to help promote investments that protect the environment and safeguard workers’ rights, the deputy minister told ANA.