Taxes in 2026: How much will be paid, the new social security contributions, presumed wealth taxation and income distribution in Crete.

How much tax in 2026?

In 2026, taxpayers in Greece will pay around 6.1 billion euros in taxes every month.

Total tax revenue is expected to reach around 73.5 billion euros, which is 3.5% more than in the previous year.

The second half of the year will see a particularly high amount, with almost 41 billion euros expected to come in during this period.

July is considered by many to be the hardest month because that is when the first instalment of income tax is due, along with other taxes.

A total of just under €8.6 billion must be paid in July.

In March, on the other hand, the tax burden is lowest at around €5 billion.

Incidentally, tax obligations for 2025 end at the end of February with the last instalment of property tax and income tax.

Tax revenue

Tax revenue fluctuates quite significantly from month to month in 2026.

The total amount rises significantly, but there are repeated ups and downs.

July stands out significantly with 8.564 billion euros.

This is due to larger payments due in that month.

Otherwise, most months range between around 5 and 7 billion euros.

That’s a tidy sum of money when you think about it.

• The highest revenues are in July and December.
• March and May are rather poor.
• The financial plan relies on this distribution to somehow meet the budget targets.

Households and businesses must therefore expect heavy tax demands in certain months.

The rising revenues are intended to help secure public services and reduce debt.

Revenues from value added tax (VAT)

Revenue from value added tax is expected to rise to €29.229 billion in 2026.

That is €1.603 billion more than in 2025 – already a noticeable increase.

Key figures on tax revenue in 2026

VAT remains one of the most important sources of funding for public services and investment.

More revenue means more scope for infrastructure and other projects.

On average, taxpayers in Greece will pay around €6.1 billion in taxes per month in 2026.

VAT accounts for a significant portion of this.

Businesses and consumers feel the impact of this tax directly when shopping.

VAT is levied on almost all goods and services – something that is quickly noticeable in everyday life.

Why VAT is rising

• Economic growth: More consumption means more VAT revenue.
• Tax policy: Higher tax rates or better controls against tax evasion play a role.
• Price trends: Rising prices lead to higher VAT amounts.

Together with excise duties and other taxes, VAT accounts for a large part of tax revenue.

The figures for 2026 show how much the state relies on this revenue to somehow stabilise the budget and finance expenditure.

Income tax

Income tax remains a large chunk of government revenue.

Revenue of around €26.757 billion is expected for 2026.

This is about 2.6% more than in 2025, an increase of €690 million.

Income tax is divided into two main areas:

• Income tax for natural persons:
  This is estimated at around €15.815 billion. That is €75 million less than in 2025. The reason for this is changes in the tax system, particularly adjustments to tax rates. It is estimated that these measures will result in a loss of revenue of around €1.218 billion. Nevertheless, higher wages, pensions and a possible increase in the minimum wage could lead to growth in the tax base.
• Corporation tax (income tax for legal entities):
  Revenue from corporation tax is expected to reach around €8.576 billion. This is an increase of €788 million compared to 2025. The reason for this is likely to be better business results for many companies in the 2026 tax year.

The changes to income tax will directly affect many households and businesses.

The adjustment of tax rates and planned interventions in particular will make the future tax system an exciting prospect.

Those who earn more, for example through wage increases or a higher minimum wage, could face a higher income tax burden.

For businesses, on the other hand, it looks like more revenue for the state.

Will the balance between tax collection and relief be successful? That remains to be seen.

Source and further information

Social security contributions: What self-employed persons and farmers will pay in 2026

2026 is approaching, and social security contributions remain a hot topic for the self-employed and farmers. The system will remain unchanged for the time being, but the calculation based on the wage index will be paused. Instead, inflation will now play the main role in the adjustment.

Contributions will therefore continue to rise, but at a slightly slower pace. If the wage index had been taken into account, we would probably have seen an increase of around 5.5%. Due to the inflation reference, the increase is now more likely to be between 2.4% and 2.5%.

At the lowest level, the monthly increase amounts to around €6. This may sound manageable at first, but it does add up over time. Higher contribution classes feel the increase even more significantly, which increases the monthly burden for many.

The situation is similar for farmers. The basic class currently stands at around €145.63 per month. Here, too, there is an increase of around 2.4%.

These adjustments are particularly noticeable in an area that is already struggling with high production costs.

The new contribution rates are to be published in January 2026. You can then expect to receive payment requests from February onwards.

Important points:

• Contributions are expected to increase by between 2.4% and 2.5%.
• Increases will be lower than those calculated using the wage index.
• Higher contribution classes will be more affected.
• The adjustment applies equally to self-employed persons and farmers.
• New contributions to be announced in January 2026
• Payment reminders from February 2026

You should not underestimate the monthly increases in your financial planning for 2026. Sure, they remain moderate, but they will not leave anyone unscathed.

Creta Times

Telemetry: Changes to taxation for private individuals

From 2026, the objective costs for residential property will fall. In areas with a zone price of up to €2,800 per square metre, the value will be reduced by 30%. In more expensive regions, the reduction will be as much as 35%.

For many taxpayers, this means that their tax burden will melt away a little.

Example: A 100 m² flat in an area with a price of €3,200 per square metre was previously valued at €4,000 using the telemetry method. In future, it will only be €2,600 – €1,400 less.

Other assets also play a role in calculating notional income. Around 1.55 million taxpayers are taxed each year according to these standards rather than their actual income.

The following changes will apply from 2026:

• Cars: For vehicles registered after 2010, CO₂ emissions will count instead of engine capacity. Those who drive low-emission cars will benefit from lower costs.
• Boats: The notional cost will be reduced by 30%, regardless of the age of the boat. This will provide tax relief for boat owners.

With these adjustments, the government wants to reflect the cost of living more realistically. It is finally recognising that many people actually spend less than previously assumed.

Who benefits most?

According to estimates, around 470,000 taxpayers will benefit directly from these changes. People who benefit most are those who:

• own mid-range flats
• drive newer, environmentally friendly cars
• own small or medium-sized recreational boats

Regulations on second homes and single-family homes

• Detached houses will retain the 20% surcharge on the telemetry method.
• For second homes, everything will remain the same for the time being, but a review of the valuation basis is likely to be carried out.

Overview of the most important points

More information on tax changes from 2026

Hundreds of thousands of self-employed people face tax increases in their 2026 tax certificates

2026 will be a more expensive year for many self-employed people, especially those with the minimum assessment amount. The reason for this is the minimum wage increase in 2025, which will push up the declared income of this group.

Important information for understanding:

• The tax increases will mainly affect self-employed people with taxable incomes between approximately €10,000 and €12,000.
• The minimum wage will increase by around 4-5%, which will also push up the minimum assessment amount.
• Planned tax rate reductions from 2027 onwards will not be able to fully offset the additional burden in 2026.
• Relief will only take effect for income earned in 2026, which will then be reflected in the 2027 tax assessment.

Who is particularly affected?

• Self-employed persons who end up in the minimum assessment system
• Income around €10,000 to €12,000, where the increase will be really noticeable
• People without children and with few deductions

Who will benefit later?

• Self-employed people with children and higher incomes above the minimum assessment amount.
• These groups will only feel the relief from the 2027 tax assessment onwards.

Creta Times

Where the money flows and where pockets are empty: income distribution in Crete

Income distribution in Crete is truly a patchwork quilt. There are huge differences between cities, tourist areas and rural communities.

People in cities and tourist regions earn more on average. But there is also much greater inequality here, as you quickly notice.

The situation is different in rural and mountainous areas. Many households there barely earn more than €5,000 a year.

Although the differences in income are smaller in rural areas, poverty is a real issue there.

Poverty is less common in cities, but when it does affect someone, it often hits them hard. The gap continues to widen here.

The figures are taken from tax data from 2021 to 2023. Despite rising incomes, the gap between people remains quite large.

Typical characteristics of income distribution in Crete:

• Tourist destinations such as Heraklion or Chania generate higher incomes
• In mountain villages and remote regions, there are more households with very little money (<€5,000)
• Urban areas show greater income dispersion
• These patterns are quite decisive for regional social policy in support programmes

It is clear to see how much economic power and lifestyle influence people’s wallets. The money mostly stays in the bustling, tourist-heavy cities.

Remote and agricultural communities often fall behind as a result.

Recommended policy approaches:

• More economic support for rural areas
• Targeted social support for low-income households, especially in mountainous areas
• Strategies to reduce income disparities in cities
• Sustainable projects in tourism and agriculture that really benefit the local people

In Crete, where you live has a huge impact on your financial situation. Those who live here notice this every day – sometimes more than they would like.

CretaLive

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