OECD report: Greeks pay highest taxes

11 April 2017
262 Views

Greek citizens paid the highest tax rates among all 35 OECD countries in 2016, according to a report released.

The data, focusing on the tax wages of OECD countries showed that Greek taxpayers were burdened with payments to the state that included high income tax, more social security contribution and a lowering of the tax free threshold. The report revealed that 2-children families in Greece bore the brunt of the taxes, as child support in Greece was much lower compared to other OECD members.

The data showed that a Greek family with two children with a gross income of 36,272 dollars per annum had to pay 23% direct taxes and contributions to the state.

In comparison, a 2-child family from Spain with a gross income of 40,276 dollars appeared in terms of weighted purchasing power to pay only 14% of its income.

A single Greek taxpayer with a gross annual income of 22,093 dollars was left with a net income of 17.632 dollars after tax. Overall, the tax burden of single workers with an average income from wage tax and social security contributions was up by 1.06% in 2016 compared to 2015 amounting to 40.2% of the aggregate cost for employers.

You may be interested

Greek PM meets Donald Trump amid growing US tensions with Turkey
FINANCE
shares42 views
FINANCE
shares42 views

Greek PM meets Donald Trump amid growing US tensions with Turkey

Panos - Oct 17, 2017

Alexis Tsipras, the Greek prime minister, will meet Donald Trump on Tuesday in an official visit to Washington that has…

Surprise! NASA has confirmed that Earth has a new Moon!
GREECE
shares46 views
GREECE
shares46 views

Surprise! NASA has confirmed that Earth has a new Moon!

Panos - Oct 17, 2017

Earth’s been hiding a little secret from its partner, the moon. Turns out the Earth has had a “mini-moon” on…

Germany and Greece: A Critical Bond
FINANCE
shares68 views
FINANCE
shares68 views

Germany and Greece: A Critical Bond

Panos - Oct 17, 2017

Relations between the countries with the European Union’s strongest economy and its most troubled one have been testy at times,…

Leave a Comment

Your email address will not be published.