TAXATION

Greek taxes not at all competitive

greek-taxes-not-at-all-competitive

Greece ranks 29th in terms of tax competitiveness among the 37 member-states of the Organization for Economic Cooperation and Development, according to the Tax Foundation research that the Markos Dragoumis Center for Liberal Studies (KEFiM) released on Tuesday in Greece.

Ranking is based on each country’s performance in the categories of the taxation of enterprises, individuals, consumption, property and profits made abroad. Greece is a laggard across almost all of those categories. However, in income taxation, it stands fourth in Europe and 10th among the 37 OECD states.

By income taxation the research also means the solidarity levy and social security contributions, as well as the complexity of individuals’ taxation and the level of the rates for capital gains and dividends, where Greece performs particularly well.

Among the weakest points of the local tax system, per the Tax Foundation, are companies’ restrictions on deferred taxation, one of the highest value-added tax rates (24%) among OECD countries, and the relatively small number of tax agreements (just 57 against an OECD average of 75).