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Three in Ten Households in Greece Unable to Pay Taxes

Kokkina_Daneia1The dire state of the Greek economy is reflected in the inability of many households to fulfill their tax obligations, says a study conducted on behalf of the Hellenic Confederation of Professionals, Craftsmen & Merchants (GSEVEE).
The study, conducted by the Institute of Studies and Research, shows that three in ten households are unable to pay their income tax while about two in ten express inability to pay the single property tax (ENFIA).
The study also shows that one in five households have overdue debts to the tax office while only 16.4% of debtors have managed to benefit from the regulation of repayment in 100 installments and 12.5% ​​of households have outstanding debts to banks.
Also, 42.8% of households have negative expectations regarding the ability to meet basic financial obligations next year. It is significant that one in two households that rely on state pensions are pessimistic about their ability to meet their basic obligations in the current year.
In addition, 29.2% consider that they are unable to meet their income tax obligations, and, in particular, 14.7% of households are unable to pay the ENFIA tax. Regarding the next year, 33.7% believe that they will not be able to repay their debts.
One in four households living in a private home have a mortgage and 15.4% of them are in arrears. One in four (24.6%) households express fear of losing their home due to both accumulated debts and additional expenses.
In the past four years, the vast majority of households are either dipping into their savings in order to get by or borrowing money from relatives or friends in order to meet their financial obligations.
About 400,000 households were forced to sell assets to meet their current obligations. In addition, there is a significant increase in the use of credit cards to fulfill financial obligations. The use of credit cards increased from 15.8% in 2012 to 31% in 2015.

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