The number of taxpayers in Greece with arrears – from a few to millions of euros – to the tax bureau and social security funds fell under 3.5 million in July 2021, according to figures released on Monday by the Independent Authority for Public Revenues.
Conversely, new tax arrears increased in July 2021 by 237 million euros, with the figure for the first seven-month period of the year reaching 3.170 billion euros, compared to 2.933 billion at the end of June 2021.
Compared to the first seven-month period of 2020, new arrears increased by 24 percent, or 2.557 billion euros in absolute terms.
According to analysts, the surge in new arrears is directly related to the Covid-19-related “lockdown” imposed in Greece in the second quarter of 2020, when the government announced suspension in various categories of taxes owed the state.
All total, arrears to the Greek state remain at the stratospheric level of 108.99 billion euros, of which a large chunk, some 25 billion euros, is considered as absolutely unredeemable, given that it deals with businesses no longer in operation and even taxpayers no longer living.
The number of taxpayers or businesses facing possible obligatory collection actions exceed 1.83 million.
Latest News
BoG Figures Confirm Banner Year for Greek Tourism in 2023
20.6 billion euros in related revenues topped the previous year’s figure by 16.5%
Piraeus Bank to Propose First Dividend in 16 Years
Piraeus Bank has forecast profits of roughly 900 million euros this year, rising to one billion euros next year
Eurostat: Inflation in Greece Eases to 3.2% in April; 2.4% in Eurozone
The rate of increase for food prices was up by 4.9% in April 2024, compared to 4.8% in the previous month
ELSTAT Feb. Retail Turnover Drops by 3.8%, Sales Volume Plummets by 9.8%
Additionally, the seasonally adjusted General Volume Index for Feb. 2024 experienced a 3.8% decrease compared to the previous month of the same year
Greek Buyers Lead Return to Vacation Home Market
In the last six months, Greeks have made a surge into the vacation home market, notably without relying on loans
NBG Receives BBB Investment Grade by DBRS
This makes NBG the first Greek bank to regain Investment grade status, nearly 15 years after the onset of the Greek financial crisis
Greek Gov. Budget: Primary Surplus 3bln in Q1 2024
Value Added Tax (VAT) revenues reached 5.876 billion euros, down by 16 million euros compared to the target
Athens’ Public Transport System Gets Green “Facelift”
The future of urban transport in Greece's capital city includes electrification, hydrogen, kinetic energy and even heighted security and monitoring through the use of drones
Athens Int’l Airport: 16.2% EBITDA Increase and 16.5% Passenger Growth in Q1 2024
Following the strong performance in the first quarter, the company revised its annual passenger traffic forecast for 2024 to 29.9 million passengers, a 6.3% increase (or roughly 1.8 million passengers) from 2023 levels.
Oxford Economics Report: Greek Economy is Just Below Risk Zone
However, the report points to a persistent challenge in the form of commercial credit risk, which remains high at 8 out of 10, ranking Greece 104th internationally