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Greek Finance Ministry: Only 220 out of 800 Million in Taxes Paid

Greek Finance MinistryIt appears that the tax collection during the last days of January was not effective, as only 220 million euros of taxes were paid. According to the Greek Finance Ministry, the total amount of taxes that should had been paid by Friday, January 31 amounted to 800 million euros.
However, the Finance Ministry believes that the amount of 800 million euros will be completed by the end of February, from taxation on property.  The effectiveness of the tax collection system affects Greece ‘s primary surplus which will determine the extent of income-based benefits that will be given to the most vulnerable social groups. According to the Greek Prime Minister, Antonis Samaras, 70% of the primary surplus will be used for social policy purposes.
Meanwhile, the fact that an increasing number of taxpayers fail to meet their tax obligations has raised much concern within the Greek Finance Ministry. As reported in 2013, the total overdue debt of taxpayers increased from approximately 500 million to 1 billion euros.
The Finance Ministry is hoping to collect 500 million euros from property taxes by the end of February.

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