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Greece’s tax arrears amount €11.83 bn for Jan-Nov 2015

Greece’s taxpayers are drained. They halted their payments to the tax office in November and had their tax debts totaling 1.45 billion euro. According to data released by the General Secretariat of Public Revenues, the hole in revenues from January 1st to November 30th amounts 11.83 billion euro.

According to Kathimerini, “when this is added to debts from previous years the money the state is owed rises to 83.6 billion euros, of which the Finance Ministry says only 9 billion euros can be collected.”

The state’s inability to pay its suppliers was the main factor in the creation of a primary budget surplus of 4.3 billion euros in the first 11 months of 2015, as spending was reduced by 3.07 billion.

Budget revenues produced a shortfall of 1.36 billion euros, amounting to 41 billion. The ministry attributes the lag in state revenues this year to the non-inclusion of the yields that eurozone central banks are due to pay Greece from holding Greek bonds (ANFAs and SMPs). They add up to 1.867 billion euros, according to the ministry.

Public Investment Program expenditure came to 3.7 billion, missing the target by 734 million euros.

PS the state doesn’t pay -> the state over taxes its taxpayers -> the taxpayers don’t have revenues -> the taxpayers don’t pay. A simple formula for a broke state.

2016 will come with Happy New Taxes.

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3 comments

  1. Happy New Year KTG!

    Looks like we kept our Dec. ENFIA payment aside to buy some meat for Christmas meal.
    Exactly right too :))

    And just think!
    We have TWO WHOLE DAYS (until 2nd January) to forget about taxes, imagine that :)))

  2. The Greek state is not only broke: it is also broken. This is just one of the reasons why paying money to the incompetents and crooks who managed the state in the last decade or more is unacceptable.