Outstanding debt and seizures are reportedly "smothering" the real economy and Greece's taxpayers, as a growing bloc of citizens are apparently unable to meet obligations vis-a-vis the tax bureau, amid a new round of tax hikes imposed last year and in tandem with continuing austerity.
By G. Kouros
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Outstanding debt and seizures are reportedly "smothering" the real economy and Greece's taxpayers, as a growing bloc of citizens are apparently unable to meet obligations vis-a-vis the tax bureau, amid a new round of tax hikes imposed last year and in tandem with continuing austerity.
According to figures released this week, the level of unpaid arrears and accompanying fines owed to the tax bureau only in March 2017 stood at 658 million euros, which bumped arrears for the year to 3.277 billion euros. Of course, total arrears owed to the Greek state - extending back decades on the part of enterprises and individual taxpayers that no longer exist, literally - reach 94.3 billion euros. A major portion of that figure is considered as debt that will never be collected.
Conversely, in another ominous statistic that was announced, the level of outstanding tax rebates -- primarily owed to businesses -- exceeded 1.9 billion euros in the first quarter of 2017.
At the same time, court-sanctioned and administrative seizures of deposits, salaries, pensions and other assets - held by either individual taxpayers or enterprises of all sizes - numbered more than 16,400 in March 2017 alone. In the first quarter of 2017, various state agencies -- especially the tax bureau -- proceeded with more than 50,300 seizures in a bid to collect arrears.