ATHENS - Greek taxpayers cannot handle any more increases to their tax obligations, and the country needs to find new sources for an economic recovery. On December 13th Poul Thomsen, the chief of the mission of the International Monetary Fund, held a telephone conference with members of the press, summarizing the Fund’s assessment of the current economic situation in Greece, published on the same day. Poul Thomsen suggested that Greece has relied too heavily on raising taxes in its efforts to close the ... Read More

ATHENS - Greece is coming up short in its tax collection targets, and efforts to collect previously unpaid taxes are not looking likely to provide any significant relief to the national budget. According to a report published on November 17th by the European Commission, Greek tax authorities currently have a backlog of approximately 165 000 pending tax investigations. The yet to be resolved cases involve a cumulative amount of EUR 81 billion in unpaid personal and corporate taxes. Taking into considerations the current ... Read More

ATHENS - Greece will instate a new property tax, in a bid to secure future financial aid from the International Monetary Fund and the European Union. In an address to international media in Berlin on September 27th the Prime Minister of Greece George Papandreou announced that Greek taxpayers will soon face a new property tax. The announcement was made only hours before the Prime Minister was scheduled to hold talks with German Chancellor Angela Merkel regarding further bailouts for the debt stricken Greece. ... Read More

In order to meet the eligibility criteria for continued bailout loans from the EU and the International Monetary Fund, the Greek government has found means of raising extra tax revenues, and plans to instate a new tax by the end of October. In a bid to assure international creditors of Greece’s ability to meet its outstanding debts, the country’s government has revealed that a new property tax will soon be instated in an effort to raise approximately EUR 2 billion per year more ... Read More

Eurozone leaders will meet this week to discuss the feasibility and benefits of instating a new tax on banks in order to raise funds for further bailout payments to the debt-stricken Greece. Early on July 18th German media sources reveled that Eurozone leaders would discuss a new bank tax at a summit scheduled for July 21st. Later on in the same day the European Affairs Minister of France Jean Leonetti confirmed that the bank tax is a topic that would be discussed at ... Read More