BUSINESS

Overtaxation renders Greece particularly unattractive

PROKOPIS HATZINIKOLAOU

TAGS: Economy, Taxation

Taxation-wise, Greece’s attractiveness is disappointingly low, as this year’s International Tax Competitiveness Index by the US-based Tax Foundation placed Greece 30th among the 36 member-states of the Organization for Economic Cooperation and Development.

The data highlight the problems created by the overtaxation that has hit individuals and corporations alike in the last few years, as since 2014, when the index was first published, Greece has been stuck between 27th and 32nd place.

Greece ranks 29th in corporate taxation and 28th in property taxes. The Tax Foundation’s analysts note that many property taxes tend to be highly distorting and complicate taxpayers’ lives and doing business considerably. With the exception of land taxation, most asset taxes increase economic distortions and bring about long-term negative effects on the economy and its productivity.

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