ECONOMY

Tradesmen’s cry of agony

Tradesmen are particularly worried about the viability of their businesses given their debts and the state of the market, according to a survey the National Confederation of Greek Commerce (ESEE) conducted and a letter it sent late last week to the Finance Ministry.

Signed by ESEE president Vassilis Korkidis, the letter suggests that the taxation imposed on corporations is disproportionate to their tax-paying capacity, according to at least seven out of 10 tradesmen in Greece.

The survey shows that the market is worried because the reform of the tax system is being conducted in a fragmentary fashion and not in a well-organized way that would convince Greeks and foreigners to invest in the country.

Korkidis added in his letter to the ministry that Greek commerce simply cannot bear the additional taxes and asked for the acceleration of the changes required.

?Today the market owes 253 billion euros to banks and will have to pay calculated taxes of 58 billion euros for 2012 while facing expiring debts of 41.1 billion euros. However, its biggest worry concerns the turnover bubble of 408 billion euros in post-dated checks among enterprises, in open credit and invoices of domestic and foreign suppliers,? the letter warns.