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Greek citizens are drawing their savings from local banks after the announcement of the detailed tax description of the incomes and assets, introduced by the government of PASOK with the new reform in the taxation system in 2010. Until now the main accent in the policy of the new government for rehabilitation of the Greek economy was put on increase of state income, which assumes a stricter regime of taxation of private people as well as corporations.

As a result of the recently observed “leak” of capital of the country, the governors decided to reconsider the problem with the introduction of a lighter tax regime for new investors. Experts from the ministry of finance suggest that all capital brought back in the country should not be taxed under the condition that 10% up to 20% of it will be put in circulation on the internal market. Until now the introduction of such concessions is just a matter of public discussion and has no official ministerial decision for the execution of such changes.  

Economic experts claim that the creation of favorable conditions for the attraction of new investments and the facilitating of administrative procedures for entering of foreign companies on the local market are just two of the main tasks which the Greek government has to complete in 2010. According to the current law for corporate taxation in Greece, a company has to pay 25% income tax and until 2014 the tax rate will have to drop until 20%. The value of this index is much higher compared to other countries who are “friendlier” to the entrance of new investments like Bulgaria for example, where the tax rate is 10% - two times and a half lower than the one in its southern neighbor.