Wednesday August 27, 2014 Search
Weather | Athens
31o C
24o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Primary surplus of 2013 ‘over 1 bln’

 Parliamentary Budget Office warns that Greeks can’t afford to pay more taxes

Greece’s primary surplus for last year will exceed 1 billion euros, a senior Finance Ministry official estimated on Tuesday, compared with a target of 812 million euros that the 2014 budget has included for 2013.

Should that estimate prove correct at the end of February, when the revenues for 2013 will have been collected, and be confirmed by the official figures that Eurostat is scheduled to issue in April, the government will have more funds to spend on social needs. The prime minister has promised that 70 percent of last year’s primary surplus will go toward correcting social injustices created by the austerity measures.

However, according to a report presented on Tuesday by the Parliamentary Budget Office, the exhaustion of taxpayers’ capacity to pay more taxes and the increase in expired debts to the state puts the achievement of a 2.9-billion-euro primary surplus for 2014 in doubt.

The office’s analysts showed that Greece suffers from excessive taxation by comparing Greek rates with the European average: The highest value-added tax rate in Greece stands at 23 percent, against 21.52 percent in the European Union and 20.45 percent in the eurozone; the top income tax bracket for enterprises has a 26 percent rate, with the average EU rate at 21.84 percent and that for the eurozone at 25.95 percent; the top rate for taxpayers amounts to 46 percent in Greece against 36.67 percent in the EU and 44.52 percent in the eurozone.

The report adds that all tax increases since 2010 have created a major burden on households without the equivalent benefits for state coffers. This is attributed to tax evasion, the exhaustion of taxpaying capacity and the increase in unemployment.

The study highlights that income tax on salary workers and pensioners has increased seven-fold since 2010, while the tax that the self-employed will pay in 2014 will be up to nine times higher than in 2010. Property taxation has grown seven-fold within five years, as the total amount of tax real estate owners will pay this year will reach 3.5 billion euros, up from 500 million in 2009.

ekathimerini.com , Tuesday Jan 28, 2014 (22:21)  
Bridge on Tripoli-Kalamata highway nears completion
Greece likely to miss Eurostat deadline for reassessed figures
Greek 10-year bond yield hits new low
Greek stocks rise for seventh day, but only just
Visitor numbers to Greece´s most important sites and museums grow
Culture Ministry figures indicate a significant increase in visitors to some of the country’s 38 most important archaeological sites and museums in the second quarter of this year, an improv...
Jailed terrorist was preparing bomb, police say
Nikos Maziotis, the leader of the Revolutionary Struggle urban guerrilla group who was arrested earlier this year, was planning another bomb attack when officers seized him after shots were ...
Inside News
SOCCER
Ranieri brings in new faces for his first Greece squad
New Greece coach Claudio Ranieri announced Wednesday a 24-man squad for the first Euro 2016 qualifier against Romania at home on September 7. Earning a first time call up were Olympiakos 21-...
SOCCER
Roma signs Greece defender Manolas from Olympiakos for 13 mln
Greece international Kostas Manolas has joined Roma on a €13 million ($17 million) transfer from Olympiakos, as coach Rudi Garcia looks to strengthen his worrisome defense before Serie A sta...
Inside Sports
COMMENTARY
Diplomacy, not dogmatism
A friend who moves comfortably within the circles of the European establishment recently described a particularly interesting experience when he found himself in a discussion behind closed d...
EDITORIAL
Preachers of hatred
Engaging in public dialogue regarding whether the anti-racism bill is mandatory and sensible is both legitimate and necessary at this current point in time. In the meantime, however, regardl...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Visitor numbers to Greece´s most important sites and museums grow
2. Jailed terrorist was preparing bomb, police say
3. Greece drafting strategy to protect its biodiversity
4. Bridge on Tripoli-Kalamata highway nears completion
5. Greece likely to miss Eurostat deadline for reassessed figures
6. Greek 10-year bond yield hits new low
more news
Today
This Week
1. ND gains one deputy as ousted MP sworn in Lamia mayor
2. Draghi soothes bond market after summer of strife
3. Venizelos hails Gaza ceasefire
4. Ryanair to submit bid for Cyprus Airways
5. Bishop Vartholomaios of Megara and Salamina dies
6. ND honorary president taken to hospital
Today
This Week
1. Carved sphinxes at Ancient Amphipolis tomb will not be removed
2. Brussels warns Greece over plans to allow construction near Korinos beach
3. Logged out of reality
4. Merkel cites euro’s ‘construction flaws’ as economy sputters
5. Attack on gay couple in Athens leaves one man needing surgery
6. Second man held over double murder in Mani
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.