By T. Tsiros
[email protected]
A shortfall of 338 million euros in the target for revenues from individual tax returns was recorded in the first seven months of 2017, according to data supplied by Greece’s finance ministry.
The shortfall was more pronounced in July, the month when the first installment of personal income tax payments – for taxpayers owing the state money based on 2016 incomes – was due. The shortfall for July was 215 million euros.
Additionally, a shortfall of 161 million euros was reported for July in terms of the target for revenues from legal entities, such as businesses. On a seven-month basis, the shortfall was 47 million euros, compared to the target, given that monthly targets had been surpassed in the first six months of the year.
The total shortfall from the tax revenue target in the regular budget for the Jan-Jul period is 682 million euros.
Shortfalls in VAT remittance targets were also reported, along with an under-performance in revenues budgeted from tobacco products.
