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
Deadline for Postal Vote Registration Expires on Mon.
More than 157,000 Greek citizens had registered on the relevant online platform so far
Orthodox Palm Sunday Today; Shops Open in Greater Athens-Piraeus Area
Orthodox Holy Week begins on Monday, April 29, and ends on Sunday, Easter Sunday or Great and Holy Pascha (May 5)
Greek Retailers Remain Optimistic About Easter Shoppers’ Turnout
While stores are expected to be open on Sunday, April 28, the majority of Easter shoppers will likely do their shopping during the Holy Week, following the deposit of Easter bonuses
Europeche: Greek Apricot Production Recovers
Europeche forecasts the production will bounce back despite a slight decrease in varieties attributed to high winter temperatures
Bank of Greece (BoG): Business-Household Deposits Up 1,675bln in March 2024
In March 2024, the monthly net flow of credit to the general government was negative by 469 million euros
FT: Greece’s Economic Rebound a Balance of Growth and Poverty
Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%