06/09/19

[Maik]

Overtaxation led to tax evasion

Losses incurred by the state coffers due to tax evasion in 2014-17 were greater than the value-added tax revenue increase as a result of consecutive tax hikes, according to a European Commission report on the so-called VAT deficit (the difference between the expected VAT revenues and actual collections).

The report shows that the period of the financial crisis in Greece constituted a greenhouse for tax evasion, with the last few years of excessive taxation aggravating the problem and placing Greece second from bottom among the European states, and only above Romania.

http://www.ekathimerini.com/244280/article/ekathimerini/business/overtaxation-led-to-tax-evasion

Oh dear, if only they'd read GGi we would've told them that