By T. Tsiros
Greece’s finance ministry collected 3.988 billion euros more in taxes over 2016 than it did in 2015, possibly the low point in the economic crisis that has battered the country since 2009.
According to detailed figures released by the ministry, the extra taxes – from direct and indirect hikes – resulted in the fiscal “cushion” created over the year in terms of state revenues, mainly the primary budget surplus as a percentage of GDP.
Tax revenues reached 47.519 billion euros, up from 43.531 billion euros in 2015; up by 1.7 billion euros from the set target.
The additional 3.988 billion euros in extra revenue, from 2015 to 2016, were derived mainly from:
— Higher corporate tax rates, which generated 3.969 billion euros in 2016, up from 2.895 billion euros in 2015.
— Higher VAT rates, which resulted in a total take of 15.01 billion euros for state coffers in 2016, up from 13.629 billion euros in 2015.
— Property taxes, which generated 3.604 billion euros in 2016, up from 3.18 billion euros in 2015.
