ECONOMY

Fresh tax arrears of 1.6 bln euros created in January

Fresh tax arrears of 1.6 bln euros created in January

Taxpayers’ expired debts are growing rapidly. According to figures released on Thursday by the Independent Authority for Public Revenue, Greeks created new tax arrears of 1.63 billion euros in January 2017.

This is one of the biggest rises in debt creation recorded in a single month in recent years and reflects taxpayers’ inability to respond to their obligations.

Notably, that amount does not include any new debts from taxes owed to third parties, or collateral activation, nonpayment of rents, fines etc.

The budget data illustrate that the overperformance of state revenues seen last year has not continued in 2017.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.