Greece still at EU-28 average in terms of tax revenues-to-GDP ratio despite fielding extremely high rates

Thursday, 31 October 2019 13:04
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By N. Stasinou

Despite the Greece remains among the world's "champions" in terms of official tax rates, as annual World Bank and Organisation for Economic Co-operation and Development (OECD) continue to show, the actual figures for revenue collection fall somewhere in the middle of the EU average, a development blamed on still widespread tax evasion and dodging of social security contributions in the country.

According to recent Eurostat figures, as a percentage of GDP, tax revenues and social security contributions are at the near average of the EU-28. Specifically for Greece, the figure is at 41 percent of GDP for 2018, marginally up compared to the previous year. The Eurozone average is 41.7 percent; 40.2 for the EU-28.

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