More Greeks to pay top rate of tax

More Greeks to pay top rate of tax
Athens protest

Greeks earning more than €42,000 per year will be taxed at a new top rate of 42% under a major new tax reform bill submitted to the country’s parliament.

Under the new guidelines, the 42% top rate and earnings threshold replaces the previous level of 45% for incomes above €100,000.

The measures were submitted to parliament hours after eurozone finance ministers in Brussels agreed to restart rescue loan payments to Greece - promising €49.1bn between now and March.

In return, Greece’s international lenders have insisted on a series of reforms, tax rises and spending cuts.

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