ECONOMY

Unpaid taxes grow at a slower pace in July

unpaid-taxes-grow-at-a-slower-pace-in-july

The amount of money that taxpayers owe the government rose again in July but by a significantly lower amount, according to figures published Friday by the General Secretariat for Public Revenue.

Unpaid taxes rose by 388 million euros last month, whereas the average monthly increases had been around 1 billion euros. It is thought the lower increase was the result of fears of a haircut on deposits, which prompted taxpayers to use their savings to pay outstanding taxes.

The total amount of new debts to the state created this year stood at 6.2 billion euros at the end of the month.