BUSINESS

Greek tax system is among least competitive

PROKOPIS HATZINIKOLAOU

TAGS: Taxation, Economy

Greece ranks 29th among the 35 countries in the Organization of Economic Cooperation and Development surveyed for this year’s International Tax Competitiveness Index by the Tax Foundation, presented by the Liberty Forum of Greece.

The country’s low ranking is attributed to the huge burden placed by the state on local enterprises through high taxes and social security contributions, as well as to an unstable tax system that constantly changes.

In the past year, Greece has dropped in three out of the five areas that are examined by the index: corporate, property and consumption tax.

“To secure sustainable growth and create jobs we must decisively reduce taxes on individuals and corporations, which would require a shrinking of the state,” argued the forum’s chief researcher, Constantinos Saravakos.
 

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