0 Members and 1 Guest are viewing this topic.
Overtaxation led to tax evasionLosses 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.