OECD report: Greece has the highest tax increases in 2015 (read full report)

Greece also leads in youth long-term unemployment

Greece is the only country in the OECD that has implemented so many tax reforms, according to the organisation’s latest report titled “Tax Policy Reforms 2018”. As the data from the OECD report reveals, Greece is the only country where direct and indirect taxes have risen so much with no GDP growth whatsoever.

In the 2-year year terms 2015-2016, Greece (listed as the GRC in the chart) has emerged as a world champion in tax increases, with increases of 2.5-3% of GDP. The increase in indirect taxes was substantially higher than the rest of the OECD nations. A marginal decrease (of 0.2% -0.3% or only 1/10 of the tax increases) was recorded only in property taxes – due to a change in the fair market value of properties.

Greece is the only country that managed to impose such excessive tax rates while registering zero growth in its economy. Tax revenues rose 5% in 2016, while the economy remained stagnant – after the new recession in 2015 – while almost everywhere else in the world GDP rates rose.

In 2015-2016, according to the OECD report, Greece was the country where tax rates went up while at the same time government expenditure declined (as a percentage of GDP).

In addition to the gloomy growth and tax figures, in 2017 Greece was a “champion” in the long-term youth unemployment rate (over one year) with 73% (second in Italy with 59%) when the average in all countries – including Greece which boosts it – is 31%.

for access to the full report click here