OECD: Increased taxes, contributions burdening Greek households

27 April 2018
566 Views

A latest Organisation for Economic Co-operation and Development (OECD) report for 2017 shows increased taxes on the average Greek household, with a four-member family in the country – one of two parents employed and two dependent children – facing the second highest tax burden rate, with only advanced Sweden coming in first.

On average, the OECD said income taxes and contributions by wage-earners in Greece take 26 percent of their annual income, while if employers’ contributions – for the wage-earner – are included, then the figures reaches the “Scandinavian” level of 40.8 percent.

According to the organization’s report, rising tax burdens in Greece are mostly due to increases in social insurance contributions and, of course, income tax. The tax load, in fact, will rise if the IMF’s demand for a lowering of the annual tax-free income threshold is implemented on Jan. 1, 2019.

In 35 OECD member-states, the tax burden increased in 18 last week, whereas it decreased in 16, with Luxembourg leading the pack. The rate remained the same in Chile.

You may be interested

Greek tourism: Average spending per trip increases by €61 during 2019
GREECE
shares9 views
GREECE
shares9 views

Greek tourism: Average spending per trip increases by €61 during 2019

Panos - Jan 20, 2020

Based on final data, the balance of travel services in January-September 2019 posted a surplus of €14,095 million, up 12.7%…

“Anonymous Greece” strike back: Turkish government websites were hit
GREECE
shares18 views
GREECE
shares18 views

“Anonymous Greece” strike back: Turkish government websites were hit

Panos - Jan 20, 2020

A counterattack was launched by the Greek hacker group “Anonymous Greece” targeting Turkish websites after Turkish hackers attacked Greek government…

Renovated Greek National Gallery of Art to reopen in 2021
ART
shares14 views
ART
shares14 views

Renovated Greek National Gallery of Art to reopen in 2021

Panos - Jan 20, 2020

Greece’s Ministry of Culture said that the upgraded National Gallery of Art, undergoing renovations and expansion during the last few…

Leave a Comment

Your email address will not be published.