Greece Comes 2nd in Taxing Businesses and Executives

Greece comes second among European Union countries in taxing companies and executives, according to the Hellenic Federation of Enterprises (SEV) monthly report.

The report says that high taxation makes Greek businesses not competitive, while at the same time executives pay taxes similar to taxes paid in highly competitive economies such as France and Belgium., without getting similar benefits in return.

Moreover, the possibility of setting off losses against future profits in Greece is limited to five years, unlike EU countries where there is no time limit. Furthermore, peer nations have not been so deep in a prolonged economic crisis.

Greek businesses also carry additional the additional burden in operating in an unstable tax system, one that changes all the time. The lack of clarity, in terms of deductible costs for example, creates significant uncertainty in the Greek business environment. Greek companies often face unexpectedly high tax differences after tax audits, while the discounts given on expenses and research are much lower than those in other EU member states.