Greece: In March, Tax Debt Increases By 25%

Tax arrears rose 25% year-on-year in March as there was no suspension of tax liabilities this year, as there was a year earlier, with the exception of arranged tranches deferred until the end of the agreed payment plan.

Data from the Independent Public Revenue Office showed that fees increased by 627 million euros in March from 503 million euros a year earlier, to 2.16 billion euros in the first quarter of 2021.

However, there was a particularly interesting element in the numbers, as the value added tax (VAT) rebates showed particularly positive results for the tax administration: the rebates satisfied 95% of the claims within 90 days of the € 488 claim. million when processing 18,509 applications.

VAT payments by taxpayers also increased significantly: in March, timely payments reached 91.75% of the total amount of VAT, as 492.02 million euros were paid through contributions, which amounted to 536.28 million euros. In February this figure was 83.04%.

The overall rate of timely tax payments was 91.31%, which is 12 percentage points more than in February.





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