Tuesday Jan 27, 2015 Search
Weather | Athens
13o C
7o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Ministry unable to collect tax fines

 Over 12.5 billion euros in penalties could have entered state coffers had the mechanism worked

By Prokopis Hatzinikolaou

The Finance Ministry has been unable to collect court-ordered tax fines totaling 12.6 billion euros, or 6.2 percent of the country’s gross domestic product, according to data posted on Thursday on the website of the ministry’s General Secretariat of Information Systems.

The court orders came about after the taxpayers concerned disputed the fines imposed by the tax monitoring mechanism. However, partly due to being understaffed as a result of the voluntary exit program and retirements, as well as to the absence of electronic applications, the tax collection mechanism has only managed to collect 630 million euros, that is just 4.77 percent of the total sum of 13.2 billion.

The above amount includes the fine of 4.8 billion euros imposed on the Acropolis stockbrokerage for its role in the structured bonds scandal three years ago. The state has not received a single euro of that yet.

There are in excess of 180,000 outstanding tax cases in the Greek courts and there is no sign that this number will shrink significantly any time soon. While Athens had intended to have 50 percent of the pending cases heard by last month and 80 percent by the end of December, ministry data indicate that only 2.1 percent of cases made it to court in the first half of the year.

As a result it is hardly surprising that sources from the ministry are suggesting that the budget’s net revenues are showing a 1.5 percent decline from the same period in 2011, which means there is still a 1-billion-euro black hole in the budget.

Ahead of the official first-half figures to be released by the ministry later this month, sources point to a 1 percent increase in revenues in June compared to the same month last year. However, this was due to the withholding of tax returns, which were 10 percent lower than last year: The revenue figures exempting tax returns are said to show a 0.5 percent drop from June 2011. Receipts from the 2009 Single Property Tax managed to boost revenues somewhat.

Also in June, income tax receipts fell by 30 percent while value-added tax receipts declined by 7 percent.

ekathimerini.com , Thursday Jul 5, 2012 (22:50)  
Greek bonds continue post-election plunge
Mixed reaction from big investors to Greek election result
Turk-Cypriot says gas search should stop until Cyprus solution is found
Bank stocks lose 23 pct in just two days
Greek coast guard search for missing ferry passenger
Coast guard vessels and helicopters continued to search for a missing passenger from a ferry from Crete that docked at Piraeus shortly before 7 a.m. on Tuesday. There had been no sign of him...
Serres police seek thieves of contraband smokes
Police in Serres, northern Greece, were on Tuesday seeking the thieves that stole more than 100,000 packets of contraband cigarettes from a customs authorities warehouse in a break-in believ...
Inside News
BASKETBALL
Basket League favorites survive challenges on the road
PAOK consolidated its position in the top three of the Basket League with a triumph at AGO Rethymnou on Saturday, while Olympiakos and Panathinaikos emerged victorious from their tough away ...
SOCCER
Olympiakos overcomes depleted OFI at Iraklio
Easy though it may seem, Olympiakos’s 3-0 win at depleted OFI Crete was rather difficult on Saturday, but was enough to keep the Reds on top on Saturday, as they have maintained their two-po...
Inside Sports
COMMENTARY
Greece, where everyone´s a winner
Whether a tradition or simply a bad habit, we have trouble finding a loser in any electoral race, a party leader who will openly concede defeat without trying to mitigate it with excuses. Th...
EDITORIAL
Political faux pas
Democracies have rules and institutions that must be respected and served by all who represent them. Most people can appreciate that politicians who have worked hard for the past two-and-a-h...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek bonds continue post-election plunge
2. Mixed reaction from big investors to Greek election result
3. Turk-Cypriot says gas search should stop until Cyprus solution is found
4. Greek coast guard search for missing ferry passenger
5. Serres police seek thieves of contraband smokes
6. Bank stocks lose 23 pct in just two days
more news
Today
This Week
1. Greek Elections 2015: Forming a government, Part 1 | LIVE
2. Greece, where everyone's a winner
3. Three days of mourning declared over death of two Greek pilots in Spain
4. Greek uncertainty weighs on low-rated eurozone bonds
5. Political faux pas
6. Europe stocks fall from seven-year high; Greek bonds drop
Today
This Week
1. Greek Elections 2015 | LIVE
2. Greek Elections 2015 | LIVE
3. SYRIZA heads for historic victory but without majority
4. Greeks fork out nearly 5 pct of their incomes on telecom services
5. Unsupervised voting
6. QE exclusion a ‘de facto Grexit’
Advertiser Link
SMART WATER Project: Outputs and conclusions of the final conference
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.