As mentioned in our previous article here, the Greek government had been in discussions to increase the national minimum wage.
Following the official announcement, the new minimum gross monthly wage will rise to €880, effective April 1st, 2025. This marks a 6.4% increase from the current level of €830, and represents the fifth consecutive rise in the minimum wage since 2019.
While this adjustment aims to improve living standards and align wages with the cost of living and inflation, it’s important to note that for some employees, the increased income may push their annual earnings above the €10,000 threshold of minimal taxation, resulting in increased income tax obligations.
Employers and employees alike should take this into consideration for payroll planning and net income expectations.
For further information on how Eurofast can support your business in adapting to these changes, please contact us at [email protected].