Figures complied by Kathimerini newspaper, shed light on the reported reduction of Greek citizen’s annual incomes in the fourth year of Greece’s bailout era, compared to the pre-bailout era.
‘From the approximately 5.9 joint tax reports submitted until the end of August, 3.7 million or the explosive percentage of 62.82% showed family earnings of less than 12,000 euros,” Kathimerinis’s analysis reads.
The newspaper notes that even though the figures in the report concern family income, 5,000,000 out of 8,000,000 taxed citizens reported less than 12,000 euros of income in 2014.
Overall the report found that in 2010 the total income reports of Greek families amounted 103.7 billion euros whereas in 2014 the total of the reports fell to 73.1 billion euros. The average family income fell to 12,411 euros in 2014 from 18,254 euros in 2010.
In 2010 the number of Greeks that reported an annual family income of less than 12,000 euros was 2,782,000, thus in 2014 an additional one million families reported they have fallen within this bracket. The average income of the families within this income range is 4,324 euros in comparison to the 7,345 euro average of the same category in 2010.
Greece’s current tax-exempt level for income is 9,550 euros per months or around 796 euros per month. The Greek government is reportedly planning to increase this limit to 12,000 euros as far as individual income is concerned. However income from other sources such as real estate is currently taxed by 11% for income up to 12,000 euros. Among the prior actions that Greek Parliament ratified to secure a bailout deal was an increase of this percentage to 15%.
Among other data that Kathimerini presented is that just 25,000 people reported annual family income of 100,000 euros and above in 2014. This same category included 38,549 families in 2010.
The second highest income group includes families that earned between 20,000 euros and 30,000 euros in 2014 with 555,000 reports compared to 705,000 in 2010.
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