• 17/05/2024

Increased by 30%, the advertising expenses of businesses are tax deductible for the tax year 2023 with the submission of this year's income tax returns.

The tax incentive is aimed at stimulating consumption and thereby enhancing trade. In particular, the advertising expenditure for outdoor advertisements and for the purchase of display time or space through the mass media (TV, radio, press, Internet) is deducted for the year 2023 at a total rate of 130%, as long as its amount exceeds by 5% the corresponding 2019 expenditure, as it was formed before the issuance of turnover credit invoices. With regard specifically to advertisements made via the Internet, in order for the relevant expense to be deducted in addition, the company through which the advertisement is shown must be registered in the Online Media Registry of the General Secretariat of Information and Communication.