Shocking Spiral of Unpaid Debt: Another 800 Million Euros Added to the Bill

CONFISCATED

Tax Office data shows that unpaid tax obligations are expected to reach 7.618 billion euros from January to July. Each month, foreclosures increase while more tax payers are crushing under the burden as they enter the state’s “black” list.

Data of the General Secretariat of Public Revenue shows that taxpayers with outstanding debts were at 4,128,962, noting an increase of 125,000 people in just a month. Foreclosures are expected with 774,282 debtors from 755,806 people in June, coming under the crush.

Warning sirens buzzed on account of 272 million euros worth of unpaid income tax as thousands of taxpayers are unable to deposit the first installment.

• Only 811 million euros from an expected 1.146 million euros worth of income tax was paid.

• From a total amount of 521.5 million euros from legal people, only 459 million euros were paid off.

• A total of 965 million euros worth of VAT taxes were paid from a total amount of 1.122 billion euros worth of VAT.

• Overdue debt increased by 800 million euros and amounts to 90.5 billion euros, along with stock and older debts.

It is a matter of debate whether 10 billion euros from the unpaid amounts will be paid off eventually. Around 20 billion euros worth of taxes amounted to old utilities and municipal debts as well as money  from bankruptcies. Old debt that may never be paid off is estimated at 1.674 euros whereas new debt is at 1 billion euros.