More than 8.5 out of 10 euros of taxes assessed are paid on time by taxpayers, an element that is reflected in the significant increase recorded in tax revenues since the beginning of the year.
The data of AADE on the tax collections in the first quarter of the year give the first place to the consistency in the payment of taxes to businesses as they pay on time more than 9 in 10 euros due from income tax.
But also on the VAT front, tax collection is moving at high speeds as it exceeds 85%. The good image of tax collections continued in May according to the budget execution data which is expected to be announced within days.
Despite the high collection rates, unpaid taxes in the first quarter of the year reached 2.1 billion. euro. In April, the number of tax debtors reached 3,687,278 natural and legal persons and is reduced by 348,167 VAT numbers compared to January when the debtors had exceeded 4 million. Of these debtors, 2,050,089 taxpayers are open to seizure of bank deposits and other assets and auctions, while 1,441,895 million debtors have been subject to compulsory measures, i.e. seizure of salaries and bank accounts.
The AADE data on tax collection in April show the following:
– Corporate income tax. 91.79% of the tax was paid on time as 22.95 million euros were collected from the public against a total debt of 25 million euros. It is noted that the corresponding percentage in March was 60.26% and for the whole of 2022 it was 87.08%.
– VAT. On-time payments reached 85.90% since of the total debt of 1.345 billion. 1.155 billion euros entered the state coffers, marking a drop compared to March which was 88.81%. 2022 closed with a compliance rate of 85.36%.
– Personal income tax. 54.78% of the tax was paid on time with collections amounting to 5.8 million euros from a debt of 10.59 million euros. In March the compliance rate of natural persons was significantly higher at 60.26% and in 2022 it moved to 74.69%.
– Real Estate Tax. Since the last installment of the 2022 ENFIA real estate tax was paid in February and since May the installments of the ENFIA for the year 2023 “run” in March and April there was no provision for revenue collection. The collection rate of ENFIA was established in January at 81.34% and in February at 81.75%, while in 2022 it had moved to 77.22%.
In total, the compliance of taxpayers in the payment of all taxes, (income tax, VAT and ENFIA) in April amounted to 85.77% from 88.50% in March and 83.30% in the whole of 2022.
Latest News
Insights into Greece’s Real Estate Landscape; Consumer Expectations and Challenges
The study indicates that while 66% of Greeks find recent real estate price hikes concerning and liken them to a "bubble," over half (56%) still anticipate further increases.
Athens in Top 10 Best Value City Breaks
Every year, Post Office Travel Money compares the costs of short breaks in cities across Europe for UK holidaymakers
Athens Int’l Airport: Americans Lead Total Passenger Traffic in Q1
According to the data processed by AIA, the top 10 in foreign arrivals are dominated by Americans, followed by the British and Germans. Other top nationalities include Cypriots, Italians, French, Dutch, Israelis, Poles, and Turks.
Greek PM Mitsotakis and Turkish President Erdogan Meet in Ankara Today
No major developments are expected, as the key aim of the meetings between the two leaders is to maintain positive diplomatic relations, but Greece is always vigilant for any surprises from the Turkish leader.
New Athens Metro Line Hopes to Alleviate Heavy City Traffic
The massive project is expected to be completed in 2029
National Intelligence Agency DG to Accompany Greek PM to Ankara
Prime Minister Mitsotakis also gave an interview to Turkish newspaper Milliyet regarding his upcoming visit
Draft Bill Eyes Detection of Uninsured, Poorly-Maintained Vehicles in Greece
According to reports, at least half a million vehicles in Greece are uninsured, while the number of those without inspections is unknown
AIA: Passenger Traffic Up by 16.3% in April
Passenger traffic at the Athens International Airport (AIA) amounted to 2.49 million during April 2024
Fitch Solutions: Greece Set to Welcome 40 Million Tourists Annually by 2028
However, Fitch Solutions highlights concerns about overtourism, cautioning that it could strain Greece's capacity to deliver quality services, potentially leading to neglect of popular destinations
ELSTAT: Q1 Exports Down 11% – Trade Deficit Up 8.7%
Amid international uncertainty and armed conflicts in Gaza and Ukraine in 2023, Greek exports continued to decline, ending the year with an 8.5% drop