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> Economy

Businesses and citizens unable to pay new taxes, data shows

In just two first months of 2016 overdue taxes up by 2.7bln

Newsroom April 8 05:59

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According to data from the Greek Finance Ministry, Greek households and businesses are unable to pay off overdue taxes to the state. In the first two months of 2016 the situation has deteriorated, a particularly worrisome development as the 2016 tax collection term has not even started. According to the data, the overdue tax payments in only 60 days have increased by 2.7bln Euros. The old overdue debts from taxes stood at 84bln Euros in February, with the current total at 87bln. Officials from the Ministry see the need for reintroducing the ability for citizens and businesses to pay their taxes in 100 payments. They warn the government coffers will soon be empty, the taxpayers are unable to cover the old and imminent taxes.

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