The Greek government presented a draft law on Tuesday to incorporate a European directive into national legislation. This directive aims to impose a minimum tax rate on multinational enterprises and large-scale domestic groups, potentially resulting in an additional tax of up to 15% on profits.
Greece was represented at ECOFIN by National Economy & Finance Minister Kostis Hatzidakis, who stated that "a long European negotiation was concluded today with success for Greece. A long-term request of successive Greek governments for the exemption of defense investments from the calculation of excessive deficit has been accepted for the first time. At the same time, there is explicit reference in a positive way to the issue that will arise in 2033 in relation to the calculation of interest on loans of the official sector on the Greek public debt, thus relieving Greece of a headache in terms of the EU's fiscal rules."
