Greek PM outlines tax cuts in 2020, promises to stick to reforms

Greece's conservative prime minister outlined tax cuts that will benefit businesses and austerity-hit Greeks next year and promised to continue reforms which he said would help the country gain credibility after a huge debt crisis.

Kyriakos Mitsotakis said the corporate tax would be cut to 24% in 2020 from 28% currently and taxation on dividends would be halved to 5%. The tax-free threshold on incomes would be maintained, he said, promising to lower the tax rate to 9% from 22% on incomes up to 10,000 euros annually.