ECONOMY

Taxpayers and businesses looking at a tough summer

taxpayers-and-businesses-looking-at-a-tough-summer

Taxpayers and businesses will have to pay more than 14 billion euros in taxes from June to December on their income, real estate, vehicles and employees.

The bulk of that amount is due over the course of the summer, causing concern in the government as taxpayers will be scrambling to meet their obligations ahead of general elections.

Dues are already high because of excessive primary budget surpluses, which have shrunk people’s incomes, but accountants say that this year’s tax bills will be particularly heavy. This is especially so for taxpayers with incomes over 35,000 euros in 2018, as they will suffer an average hike of 40 percent compared with the year SYRIZA came into power, in 2015.

A large part of taxes ultimately end up in the huge pool of unpaid bills and fines, which gets bigger by some 10 to 12 billion euros every year.