The cost of doing business in Greece

[Maik]

Commerce Chamber: High Taxes Drive Companies Away from Greece

High taxes and insurance contributions drive businesses away from Greece, says the Athens Chamber of Commerce and Industry (EBEA).

Specifically, employer social security contributions stand at 24.6 percent, 10 percentage points more than competing companies in neighboring countries, while VAT is 3 percent higher than the average in Balkan countries.

EBEA President Konstantinos Michalos said that the business tax in Greece stands at 29 percent, which is the highest in the wider Balkan area, including Turkey and Italy.

The EBEA president says that Greek businesses have to pay a total of 52 percent of their revenues in taxes, including VAT. This is 18 percentage points higher than the average in Balkan countries.

http://greece.greekreporter.com/2016/03/30/commerce-chamber-high-taxes-drive-companies-away-from-greece/