Greece signals business tax relief and unveils new trade mapping tool

During the Greek Commerce Day event, Finance Minister Kyriakos Pierrakakis signaled that the government will prioritize new support measures for businesses if additional fiscal space is created in the coming years. Key priorities include reducing advance tax payments and eliminating the professional activity levy. Pierrakakis noted that a 5-percentage-point reduction in advance tax payments would cost approximately €400 million in the first year.

At the same event, the Hellenic Confederation of Commerce and Entrepreneurship (ESEE) unveiled ‘GeoBase,’ a new digital mapping tool designed to track commercial activity across Greece. The platform, which is expected to be available for use on September 28, will map retail and wholesale businesses in approximately 90 major cities. It aims to provide actionable data for businesses, investors, and policymakers by visualizing market trends and regional developments.

Greek retail is a significant economic driver, contributing 10.9% to the national GDP and employing roughly 760,000 people. ESEE President Stavros Kafounis emphasized the importance of leveraging tourism to boost the sector, suggesting that increased tourist spending could significantly impact the economy.