Revenues Fall in Greece in January Fall

February 14, 2015 Taxation in Greece

ATHENS – Greek taxpayers have delayed paying their taxes in January, in the hopes that the new government would have cut some taxes in its first few weeks of power.

Earlier this week the Ministry of Finance of Greece issued a statement confirming that tax revenues over the month of January were approximately 23 percent below the government’s own forecasts.

The total of all tax revenues collected in January was EUR 3.49 billion, while the government expected to see total tax revenues of EUR 4.54 billion.

The shortfall of nearly 1 billion has been attributed to the fact that many taxpayers intentionally delayed payment of their taxes in January, due to the recent snap election, and the possibility that a new government may immediately repeal several controversial tax measures, such as the unified property tax.

Commenting on the delayed tax payments, the Deputy Finance Minister Dimitris Mardas said that the unpaid taxes will surely be paid back in the coming months.

Photo By: JerandSar Gimbel