ECONOMY

Prospect of elections sent new tax debts soaring last month

Unpaid taxes soared to 1.27 billion euros in December alone, the General Secretariat for Public Revenues announced on Friday, as many taxpayers have chosen not to pay their dues in view of the change in government.

The sum of unpaid taxes last year reached 13.77 billion euros, while the last quarter observed a disproportionately higher amount than in the rest of the year owing to anticipation of the elections.

When the 2014 debts are added to the outstanding balance at the end of 2013, the sum comes to 73.79 billion euros.

The collection of older debts also fell short of the target in December, as against an expected 2 billion euros, the state coffers absorbed just 1.56 billion last month.