1.6 Billion Euros in New Tax Arrears Created in January

 

According to figures released on Thursday by the Independent Authority for Public Revenue, taxpayer’s expired debts are quickly rising.

Greeks created new tax arrears of 1.63 billion euros in January 2017, one of the biggest upsurges in debt creation recorded in a single month in recent years, reflecting taxpayers’ inability to fulfill their obligations. This amount does not include any new debts from taxes owed to third parties, or collateral activation, nonpayment of rents, fines etc.

Overperformance of state revenues observed last year has not continued in 2017 as illustrated by the budget data.