Friday October 24, 2014 Search
Weather | Athens
19o C
12o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
‘Stop tax dodging to lower taxes’

 Task Force sees progress but officials call for monitoring of evasion and increase in flow of bank credit
The head of the European Commission's Task Force for Greece, Horst Reichenbach

By Prokopis Hatzinikolaou

Greece has recorded major progress in its absorption of European subsidies as well as in restructuring its tax administration but still laggs in terms of bank credit to enterprises, to say nothing of its failure to contain tax evasion, according to the seventh report of the European Commission’s Task Force for Greece, which was issued on Wednesday.

“You need to catch tax dodgers if you want to reduce your taxes,” a top Commission official said at the presentation of the report in Athens. “If tax administration had been more efficient, we could have reduced that tax burden,” he added.

The report praised the progress observed in tax administration, both in terms of organizational regulations and the main corporate procedures such as debt collection and the payment of value-added tax rebates. It also saw progress in checks related to illegal activities, with staff acquiring more skills and Task Force experts offering “guidance in the workplace.”

Another positive aspect is the operation of the bank account register, the report noted.

However the Task Force also underscored the problems in the real economy.

“The issue of loans to the real economy in Greece needs further improvement. The sector is still recording high levels of nonperforming loans, while the issuance of loans remains limited and is characterized by high requirements in guarantees and by high interest rates,” the report said.

A senior Commission official noted that lack of cash flow remains one of the key obstacles hindering the growth of the economy, as do bad loans, for which Greece has not asked the Task Force for any help. He added that there is a huge stock of international experience on this front that can be used.

On the absorption of European Union subsidies, the report praised Greece’s rise from 18th spot in the EU at the end of 2011 to fifth, having steadily improved its rate of absorption from the Structural Funds for the 2007-13 period.

Still, it warned of a possible “overcommitment of funds” for the next funding period (2014-20).

ekathimerini.com , Wednesday Jul 23, 2014 (22:22)  
Tax revenues up by 1 bln euros in 2nd quarter, public sector wages down
ECB bank assessment to show 6-billion-euro capital gap, Citi says
EU says Turkey´s energy hunt off Cyprus is a a ´serious concern´
ECB vies for third time lucky in European stress tests
Heavy rainfall, strong winds cause problems in Attica and beyond
Heavy rainfall and strong winds led to traffic problems and short power outages on Friday as well as flooding dozens of ground-floor and basement homes and stores. The fire service received ...
Greek private workers´ union calls 24-hour strike for November 27
The country's umbrella union representing workers in the private sector, known by its Greek acronym GSEE, on Friday called a 24-hour strike for November 27 to protest austerity measures bein...
Inside News
SOCCER
Panathinaikos snatches point at Eindhoven
Panathinaikos offered its fans a glimpse of its glorious past in European competitions snatching a draw at PSV Eindhoven, on an otherwise bad night for Greek soccer in the Europa League, as ...
BASKETBALL
Greens succumb to first loss at Bayern
Panathinaikos’s unbeaten run in all competitions came an end on Thursday as the Greek champion lost 81-75 at Bayern Munich for the Euroleague. Bayern is a team that improves every year, and ...
Inside Sports
COMMENTARY
Tension for tension’s sake?
It is evident that Turkish President Recep Tayyip Erdogan feeds off tension. He would barely have achieved as much as he has – and prevailed – if he had not been so keen to confront a series...
EDITORIAL
Testing ground
The Regional Authority of Attica is a good testing ground for politicians who appear to thrive on accusations to prove whether they can actually solve major problems of a practical nature. T...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Heavy rainfall, strong winds cause problems in Attica and beyond
2. Tax revenues up by 1 bln euros in 2nd quarter, public sector wages down
3. ECB bank assessment to show 6-billion-euro capital gap, Citi says
4. EU says Turkey´s energy hunt off Cyprus is a a ´serious concern´
5. Greek private workers´ union calls 24-hour strike for November 27
6. Finance Minister appeals for support for amendments ahead of vote
more news
Today
This Week
1. Woman killed in tram accident in Floisvo, south of Athens
2. ECB vies for third time lucky in European stress tests
3. Clocks to go back 1 hour on Sunday
4. Venizelos slams Turkey for 'flagrant violation of international law' off Cyprus
5. Cyprus GDP upgrade seen as boosting bailout exit plans
6. ECB bank assessment to show 6-billion-euro capital gap, Citi says
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Greece’s closed society is central to its current malaise
3. Coalition shooting itself in the foot
4. Greece must stick to reforms, says Schaeuble
5. At least 11 banks to fail European stress tests, three in Greece, report says
6. Cyprus to block Turkey's EU talks after EEZ violation
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.