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GreekReporter.comGreek NewsEconomyGreek State Owed €62.5bn in Back Taxes, Owes €4.7bn

Greek State Owed €62.5bn in Back Taxes, Owes €4.7bn

tax officeThe inability of the Greek citizens to meet their tax obligations has created a 62.5 billion euros backlog, 3.5 billion euros of which was accrued in the first quarter of 2014, according to official figures.
Meanwhile, the Greek state itself is also failing to meet its obligations, by March owing more than 4.7 billion euros to private individuals and companies. It is estimated that tax refunds owed to citizens amount to 459 million euros. The Greek economy has been caught in the nets of illiquidity and it is “drowning” in its debts.
At the same time, it appears that the state’s audit services are failing to collect the arrears. According to data from the General Secretariat of Public Revenue, during the first quarter of 2014, only 95 checks were carried out instead of 250, as initially scheduled. The collection of fines was only 26.73% against a targeted 65%.
Social Security Organizations in Greece owe a total of 2.925 billion, with EOPYY alone having 1.8 billion euros worth of debt. The Greek hospitals owe 885 million euros, municipalities owe 461 million while Greece’s government ministries’ arrears amount to 242 million euros.

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