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Greece

Greece Seizes 900 Accounts per Day Over Rocketing Tax Debts

Taxpayers’ arrears to the state rocketed by 5.47 billion euros in the first half of 2017, as Greeks are unable to meet their tax obligations. At the same time, the authorities freeze or seize about 900 bank accounts on a...

Confiscations for Debtors to Greek State Rise Dramatically

Tax Office confiscations for those who owe to the Greek State are increasing rapidly, as in the first two months of the year 33,933 taxpayers with debts over 500 euros saw money withheld from their salaries, pensions, bank accounts...

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

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...

Greek Unpaid Debt to State Funds at 50% of GDP

Overtaxed Greek citizens are having difficulty meeting their obligations with the Greek tax department. In May, taxation and businesses, according to data released by the General Secretariat of Public Revenue, left 1.25 billion euros worth of unpaid taxes. Overdue...

9 Things to Know about Greece’s IMF Debt Default

By André Broome, University of Warwick Greece missed the deadline on its €1.6 billion loan repayment due to the IMF June 30, becoming the first advanced economy to default to the fund in its 71-year history. Here are nine essential things to know...

Greeks Piling Up Debts

  Some recent findings showed that the majority of Greek citizens are drowning in debts and find it hard to fulfill their obligations to the Greek State. The overdue debts have increased by 1.1 billion euros during October, while in 2013,...

Businesses Can Write Off State Debt

The Greek Finance Ministry said it will allow businesses who are owed money to the government to write down their obligations to the state but how much they should have received. Greece has insisted on payment in full of...

Debts to Tax Office Soaring

Greek citizens' inability to pay their increased tax obligations have led to expired debts soaring in August and September, according to Finance Ministry data published on Nov. 7 and reported by daily Kathimerini. Tax debts created this year to end-September...

Greek Taxpayers to be Fined for Payment Delays

In January more than 2.5 million Greek taxpayers couldn’t afford to pay their taxes, adding nearly 1 billion euros to the ever-rising arrears. The General Secretariat of Public Revenues reported that 962 million euros of overdue debt obligations to the State...

2.6 Million Greek Taxpayers Fail to Pay Taxes

  There are 2,653,032 Greek taxpayers who are drowning in tax debts as they cannot afford to pay the increase in taxes. As a result, the amount of the overdue debt obligations from January 1, 2013 to January 31, 2014...

Greek Government Arrears Piling Up

An increase of nearly 70 million euros was recorded in the government's arrears to individuals in June, with debts amounting to 5,134 billion, from 5,067 billion in May. According to State General Accounting Office figures, 3,579 billion account for overdue...

One in Two Greeks Unable to Pay Taxes Due

Greek taxpayers are drowning in debt as half of them are unable to meet their tax obligations, according to an Imerisia newspaper report. Higher taxes along with wage and pension cuts and raises in prices of goods have left Greek...

5 Losses Spinning Greece on a Downward Spiral

Austerity measures implemented in Greece as part of its long haul towards redemption have caused social and economic upheaval in the country. Regardless of the cause of the crisis, here are the results of the belt-tightening since 2009 in...

Greek Unpaid Taxes at 90 Bln and Rising

In April, outstanding tax debt to the state rose by 700 million euros, reaching 4.332 billion euros. The amount is expected to increase to even greater levels when the next single property tax (ENFIA) installment is due. Total revenue debt,...

Three in Ten Households in Greece Unable to Pay Taxes

The dire state of the Greek economy is reflected in the inability of many households to fulfill their tax obligations, says a study conducted on behalf of the Hellenic Confederation of Professionals, Craftsmen & Merchants (GSEVEE). The study, conducted by the Institute of...