Greeks Owe More Than €104 Billion to the State, Official Data Reveals

1 May 2019
360 Views

The latest figures published last week by Greece’s Independent Authority of Public Revenue (AADE) revealed that unpaid taxes to the Greek state now amount to the staggering sum of €104,365 billion.

This massive figure highlights Greece’s problem with tax evasion, an ongoing issue which makes the country’s economy struggle year after year.

The majority of those in debt actually owe less than €500, as 4,064,750 individuals have an outstanding debt of less than five hundred euros.

The latest figures from AADE clearly show that the bulk of this enormous amount of liability comes from people with relatively small debts, as 92.6 percent of the taxpayers who owe to the Greek state have to repay less than €10,000.

This maddening situation is one of the reasons why the Greek government plans to introduce a new repayment scheme, with tax debtors having up to 120 installments to pay their arrears to the state.

With this new initiative, Greek authorities hope that those with overdue taxes will be able to settle their arrears, helping both themselves and the state, which will finally be able to see its revenues grow.

However, seventy-nine individuals have outstanding arrears of more than €100 million each, totaling a whopping €34 billion, which comprises approximately one third of the total amount owned to the Greek state.

Public revenue experts have stressed numerous times, however, that the majority of this figure is not even collectible anymore, since it was created from bankruptcies and tax evasion incidents which took place decades ago.

Greece’s tax authorities imposed compulsory payment measures on a total of 1,186,380 debtors in February of 2019, up from 1,175,987 in January of the same year.

Source: Greek Reporter

You may be interested

Mitsotakis to Bild newspaper: “We will open tourism to countries with similar epidemiological data as Greece”
GREECE
shares22 views
GREECE
shares22 views

Mitsotakis to Bild newspaper: “We will open tourism to countries with similar epidemiological data as Greece”

makis - May 26, 2020

The safe comeback of tourism flows in Greece and economic recovery from the coronavirus pandemic were the focal point of…

5 Greek “Caribbean” beaches that are heaven on earth
GREECE
shares38 views
GREECE
shares38 views

5 Greek “Caribbean” beaches that are heaven on earth

Panos - May 26, 2020

The Caribbean may be famous for its crystal clear waters, but Greece can easily compare with its own exotic beaches…

German bookings on the rise as Greece opens up
GREECE
shares38 views
GREECE
shares38 views

German bookings on the rise as Greece opens up

Panos - May 26, 2020

A significant increase in bookings for Greece, the Balearic Islands and Portugal has been recorded recently by German travel companies,…

Leave a Comment

Your email address will not be published.