GREECE - Tax Breaks for Workers-from-Anywhere

Arno Froese

Greece wants to use its solid track record in combating the coronavirus as a way to help entice people to move to the country—and it’s promising that half of their income will be tax-free.

“Technology means we can now choose where we live and work,” Alex Patelis, chief economic adviser to Prime Minister Kyriakos Mitsotakis, said in comments to Bloomberg. Greece “can now offer tax incentives as well as the sun,” he said.

Bringing in foreigners and reversing the country’s brain drain are seen as keys to turning around the country’s performance in the wake of a decade-long debt crisis that cost some 25% of economic output.

Microsoft Corp. and Volkswagen AG have both announced plans to invest in Greece, but the country needs much more help if it hopes to counter a debt-plus-pandemic crisis. Moody’s Investors Service upgraded the country’s sovereign credit rating, citing high growth potential.

With the new incentive plan, the Greek government is also focusing on the U.K. and employees or the self-employed who may need to leave due to Brexit.

Greece currently applies a tax rate of 44% for earnings over 40,000 euros ($47,000). The new incentives will apply for a maximum of seven years to workers who want to move their tax base to Greece, regardless of nationality and job type, though it will only apply to new positions created in Greece in 2021. The offer will also be available to Greeks living abroad if they return.

-www.bloomberg.com, 11 November 2020

Arno's Commentary

Once again, we see how borders are falling away. Language is no longer a major barrier, and Greece—as a member of the European Union and the Eurozone—presents itself to an open, global world.

In the Bible, Greece is identified as the third of the four Gentile superpowers: Babylon, Medo-Persia, Greece, and Rome. 

Greece was the originator of democracy, which was further developed by the Romans. Today, it is considered the most effective political philosophy for the entire world.

During Daniel’s second night vision, he reports the activity of Greece in chapter 8, verse 21: “And the rough goat is the king of Grecia: and the great horn that is between his eyes is the first king.” The goat with the great horn defeated Medo-Persia.

Although ancient Greece spread far and wide, today it’s limited to a geographic area with a population of little over 10 million. Yet Greece’s prominence remains, just as Babylon, Medo-Persia and Rome. However, in the end, they all will be broken as Daniel 2:44 proclaims: “And in the days of these kings shall the God of heaven set up a kingdom, which shall never be destroyed: and the kingdom shall not be left to other people, but it shall break in pieces and consume all these kingdoms, and it shall stand for ever.”

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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