Tag Archives: Greece tax revenues

A taxing issue for Greece

Greece’s tax collectors were told over the weekend that they would have to do a much better job this year at gathering overdue taxes. How much better? Almost 200 percent.

According to Skai TV, some 700 million euros was collected in 2011 by chasing down taxpayers that had run up debts. This year, inspectors will have to collect 2 billion euros as Greece tries to meet even tougher fiscal targets amid a deepening recession.

Preliminary figures showed that tax revenues were already 1 billion euros short of the government’s target in January alone, with VAT receipts showing a considerable drop. As consumption decreases, so do revenues, which makes it even more vital that any existing debts are settled.

Continue reading