BUSINESS

Tax debts keep piling up, even in the quiet month of April

PROKOPIS HATZINIKOLAOU

TAGS: Finance

The overdue arrears of individual taxpayers and corporations to the state climbed to 4.15 billion euros after the first four months of the year, as the growth rate continues to be about 1 billion euros per month, meaning that by the end of the year new debts to the state will likely exceed 12 billion.

In what was another quiet month for taxpayers – without income or property tax payments – unpaid taxes added up to 600 million euros in April, taking the sum for the January-April period to over 4 billion and threatening to derail budget revenues. There are fears the rate of arrears growth will increase considerably in July, when income tax payments start, and from September, when the first installment of the Single Property Tax (ENFIA) will be due.

The sum of arrears to the state – old and new – amounted to 101.4 billion euros at the end of April.

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