By G. Kouros
An increase in tax revenue and a corresponding decrease in Greek families’ disposable income, in tandem with reduced business turnover, is directly linked with austerity measures taken in 2016 as a result of the third bailout, according to a report issued by the new Independent Authority for Public Revenues last week.
The independent authority, which was created as per a provision in the third bailout memorandum, announced that throughout 2016 tax revenues in the country reached 47.518 billion euros, an increase of 3.99 billion (9.16 percent) over the same figures recorded for 2015.
Additionally, revenues from surcharges, fines and penalties linked with direct taxes increased by 63.19 million euros, up by 19.07 percent, to stand at 394.59 million euros for 2016, as opposed to 331.39 million euros in 2015.
Property taxes, including ones imposed on inheritance, grants and parental grants, comprised 16.5 percent of total revenues collected. Just in terms of the unpopular property tax, known as ENFIA in its Greek-language acronym, the leftist Tsipras government collected 3.49 billion euros in 2016, up from 3.04 billion in 2015.
In terms of the ubiquitous indirect taxes, especially Greece’s stratospheric VAT rates, the latter increased by 8.02 percent, which translates into a 1.9-billion-euro hike, yoy. The absolute total reached 25.68 billion euros, up from 23.78 billion in the Greek economy’s “annus horribilis” of 2015.
