Αrt2611 Πέμπτη 16 Φεβρουαρίου 2017
REVEALED: The STAGGERING number of Greeks paying ZERO income tax amid financial
crisis
AN ASTONISHING number of Greek households are paying no income tax at all - a shocking new chart has revealed.
By ZOIE O'BRIEN AND SIOBHAN MCFADYEN
As the country tries to clamber out of its debts, the International Monetary Fund (IMF) has said more than half of homes are paying zero income tax.
The average in Europe for households making no contribution stands at around 8 per cent – but in Greece it is above 50.
Income tax is the payment taken from people in employment which goes towards Government funded projects such as schools, prisons, police and the armed forces.
GETTYIMF chart shows more than 50 per cent of Greek homes pay NO income tax
GETTYProtesters in Greece take to the streets over IMF bailout deals
We need to apply the principles that we apply to all countries because we are lending international community money
Christine Lagarde
Since fewer people are paying towards the Government, Greece cannot meet the IMF repayment schedule, sliding the nation further into debt.
Greeks were angered by the austerity measures imposed on their country by the IMF, making the Government’s position more difficult.
Despite the country clearly struggling, the IMF has said it cannot compromise for prime minister Alexis Tsipras and offer a sweetheart deal for his country.
Managing Director Christine Lagarde said: “We have been asked to help, but can only help at terms and conditions that are even-handed.
“In other words we cannot cut a special sweet deal for a particular country because it is that country.
“We need to apply the principles that we apply to all countries because we are lending international community money.
IMFThe IMF is offering Greece a road plan but they are threatening to default
GETTYIMF managing director Christine Lagarde said Greece will not get a 'sweetheart' deal
In its report the IMF was scathing on the state of the Greek administration's attempts to collect tax and offered it advice.
The report states: "The overriding objective of the IMF’s engagement with Greece is to help the country put itself back on a path of sustainable growth that benefits the Greek people.
"In an effort to boost revenues, Greece has followed a policy of repeatedly hiking already high tax rates, instead of
broadening the tax base.
"It has not worked. After years of this policy, Greece faced increasing resistance by taxpayers in 2014, which prompted the authorities to resort to instalment and deferral schemes, even though the pervasive use of such schemes—Greece had a staggering 50 of them in the area of social security alone since 2001—means that they are inevitably seen by taxpayers as entailing de facto tax forgiveness.
"This is evident in the accumulating tax and social security debt to the state, which has reached €120 billion
around 70 percent of GDP, with half of taxpayers behind on their payments, and steadily declining tax collections, despite the extraordinary assistance provided to Greece by international bodies aimed at improving tax administration.
"The income tax regime is a case in point. Greece provides an extremely generous tax credit, which allows more than half of wage earners to be exempt from income taxes."
IMFThe data shows that Greece has more tax free households than any other EU country
Countries paying less than 10 per cent income tax included Ireland, France, Slovakia and Estonia.
The country closest to the Greek figure is Finland at around 20 per cent.
Despite some countries being small in comparison to Greece - Mr Tsipras’ country has the biggest debt pile in Europe relative to the size of its economy.
The IMF has been pushing for Greece to enact long-term reforms of its income tax and pension systems to avoid deficits.
Despite resistance in the country it is hoped they will be able to come to a suitable arrangement.
http://www.express.co.uk
www.fotavgeia.blogspot.com
REVEALED: The STAGGERING number of Greeks paying ZERO income tax amid financial
AN ASTONISHING number of Greek households are paying no income tax at all - a shocking new chart has revealed.
By ZOIE O'BRIEN AND SIOBHAN MCFADYEN
As the country tries to clamber out of its debts, the International Monetary Fund (IMF) has said more than half of homes are paying zero income tax.
The average in Europe for households making no contribution stands at around 8 per cent – but in Greece it is above 50.
Income tax is the payment taken from people in employment which goes towards Government funded projects such as schools, prisons, police and the armed forces.
GETTYIMF chart shows more than 50 per cent of Greek homes pay NO income taxGETTYProtesters in Greece take to the streets over IMF bailout dealsWe need to apply the principles that we apply to all countries because we are lending international community money
Christine Lagarde
Since fewer people are paying towards the Government, Greece cannot meet the IMF repayment schedule, sliding the nation further into debt.
Greeks were angered by the austerity measures imposed on their country by the IMF, making the Government’s position more difficult.
Despite the country clearly struggling, the IMF has said it cannot compromise for prime minister Alexis Tsipras and offer a sweetheart deal for his country.
Managing Director Christine Lagarde said: “We have been asked to help, but can only help at terms and conditions that are even-handed.
“In other words we cannot cut a special sweet deal for a particular country because it is that country.
“We need to apply the principles that we apply to all countries because we are lending international community money.
IMFThe IMF is offering Greece a road plan but they are threatening to defaultGETTYIMF managing director Christine Lagarde said Greece will not get a 'sweetheart' dealIn its report the IMF was scathing on the state of the Greek administration's attempts to collect tax and offered it advice.
The report states: "The overriding objective of the IMF’s engagement with Greece is to help the country put itself back on a path of sustainable growth that benefits the Greek people.
"In an effort to boost revenues, Greece has followed a policy of repeatedly hiking already high tax rates, instead of
broadening the tax base.
"It has not worked. After years of this policy, Greece faced increasing resistance by taxpayers in 2014, which prompted the authorities to resort to instalment and deferral schemes, even though the pervasive use of such schemes—Greece had a staggering 50 of them in the area of social security alone since 2001—means that they are inevitably seen by taxpayers as entailing de facto tax forgiveness.
"This is evident in the accumulating tax and social security debt to the state, which has reached €120 billion
around 70 percent of GDP, with half of taxpayers behind on their payments, and steadily declining tax collections, despite the extraordinary assistance provided to Greece by international bodies aimed at improving tax administration.
"The income tax regime is a case in point. Greece provides an extremely generous tax credit, which allows more than half of wage earners to be exempt from income taxes."
IMFThe data shows that Greece has more tax free households than any other EU countryCountries paying less than 10 per cent income tax included Ireland, France, Slovakia and Estonia.
The country closest to the Greek figure is Finland at around 20 per cent.
Despite some countries being small in comparison to Greece - Mr Tsipras’ country has the biggest debt pile in Europe relative to the size of its economy.
The IMF has been pushing for Greece to enact long-term reforms of its income tax and pension systems to avoid deficits.
Despite resistance in the country it is hoped they will be able to come to a suitable arrangement.
http://www.express.co.uk
www.fotavgeia.blogspot.com
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