Sunday April 19, 2015 Search
Weather | Athens
14o C
09o 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)  
Unclear strategy has everyone puzzled
Piraeus confirms absorption of Panellinia Bank
Social security problem is due to general economic issues
List of revenue measures drafted
Panousis skeptical about law allowing early prison release
Alternate Minister for Citizens’ Protection Yiannis Panousis (photo) has distanced himself in an interview with Sunday’s Kathimerini from a law passed on Friday that allows inmates suffering...
Spike in Syrians seeking asylum in Greece
The number of Syrians applying for asylum in Greece has risen by more than 250 percent this year, according to the head of Greece’s asylum service, Maria Stavropoulou. She told Sunday’s Kath...
Inside News
BASKETBALL
Triumph for Olympiakos at Barcelona
Olympiakos produced its best away performance so far this season to defeat host Barcelona 76-63 on Friday and snatch the home advantage in the Euroleague play-offs. The Reds have now tied th...
BASKETBALL
Another heavy loss for improved Panathinaikos in Moscow
Panathinaikos raised its performance since Tuesday but still suffered a 20-point loss at CSKA Moscow on Thursday to find itself trailing 2-0 after Game 2 of the Euroleague play-offs. Having ...
Inside Sports
COMMENTARY
The price of compromise
The representatives of the middle-class political world made plenty of compromises over the years and now we are paying the price. The current government’s appointment of failed politicos, u...
EDITORIAL
Premier’s choice
Prime Minister Alexis Tsipras was not elected by the 4 percent that has traditionally formed the hard core of SYRIZA supporters. Greeks may be desperate and exhausted but they still have the...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Unclear strategy has everyone puzzled
2. Piraeus confirms absorption of Panellinia Bank
3. Social security problem is due to general economic issues
4. List of revenue measures drafted
5. Agenda
6. Russia denies German report it is ready to sign gas deal with Greece
more news
Today
This Week
1. Coalition ponders next move as talks with lenders resume
2. The price of compromise
3. Greece bailout plan still lacking, ECB chief Mario Draghi says
4. Potami not seeking cooperation with other parties, says leader
5. Spike in Syrians seeking asylum in Greece
6. Panousis skeptical about law allowing early prison release
Today
This Week
1. Quarantine for Greek bank subsidiaries in neighboring countries
2. Greek finance ministry hits back at German newspaper report
3. Time to get serious
4. 'Civil war' brewing over disputed Greek goldmine
5. Putting off payments led to Q1 budget primary surplus
6. In the shadow of Greek prison, locals dread Golden Dawn trial
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.