A veritable “tax storm” looms on the horizon for Greek taxpayers in the second half of 2016, as increased hikes are expected to translate into an additional seven to eight billion euros of tax revenue – most coming out of the pockets of wage-earners and whatever business and corporate profits.
At the projected rate, the monthly intake of taxes by the Greek state is expected to reach 4.5 billion euros.
The process to receive the first tax statements (income for 2015) has been delayed, as have remittances from the unpopular property tax (ENFIA), which is scheduled for payment in the second half of the year. The property tax is expected to become even more “unpopular” if, according to reports, the government approves even higher tax rates, despite the recent downward estimates in objective real estate values.
Therefore, July 2016, amid the height of the tourism season, appears as the most tax-laden month of the current calendar.
