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Posted on: February 21st, 2013 by AlYunaniya Staff No Comments

Greece: Government troubled with decline in revenues

©Copyright:Aliki Eleftheriou-All rights reserved.No reproduction without permission,creditline compulsoryEMAIL:alikieleftheriou@gmail.comAthens-Greece

photo: flickr

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State revenue collection is on a dangerous trajectory as lagging in relevant set targets is observed for February as well, protothema.gr reports.

Following January’s serious shortfall in state revenues, the plunge seems to be continuing in Februaury too, according to protothema.gr.

Despite big tax hikes demanded as part of austerity measures by international lenders, tax revenues fell precipitously in January, with the Greek Finance Ministry reporting a 16 percent decrease from a year earlier, and a loss of  EUR 775 million in one month.

The economy team is concerned about the low payments by large enterprises. These are now under the newly established Tax Office for large enterprises, which has received at least 150 auditors from other offices around the country, resulting in the latterbeing short staffed and having small businesses as their only employment task.

According to data from the Finance ministry, of the EUR 1.4 billion left unpaid by large enterprises in 2012, just EUR 225.3 million was collected, i.e. 15.9% of the 20% target set by the ministry and the Troika.

So they were overtaken even by the Piraeus tax office, since small family businesses in this area repaid at least EUR 34.4 million in debts, of the total EUR 215.4 million delayed in 2012, covering 16% of the debts of the season, and are now struggling to pay the remaining 84% (and of course all other tax debts from previous years). Respectively, businesses in Thessaloniki, which owed taxes amounting to EUR 130.4 million in 2012,have paid EUR 19 million (14.5%) during the year.

Given the recession, the ministry has no other means left to rectify the situation but to try to contain tax evasion and improve tax collection.



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