Greeks Scheduled to Pay Billions in Taxes

Greece - Early Years of a Young Nation(Greece) – Greek citizens will be asked to pay a total of 23.3 billion euros over the next few months. These taxes will come in the form of direct taxes, car registration fees, priority taxes, and more. This figure is about 2.5 billion euros higher than the fees that Greeks paid the government in 2015. The Greek Finance Ministry has expressed concern that these high taxes would place an even greater financial burden than they are already under because of the recession and austerity measures that have come about because of the bailouts. The finance ministry also fears that these heavy taxes will cause many people to default on their taxes and not be able to pay.

According to the Greek newspaper, Naftemporiki, which covers financial topics, Greeks who have pensions, work on a freelance capacity, and Greek businesses, will be asked to pay out around 4.5 billion euros from September of 2016 to January of 2017. Another 6.3 billion euros will come from items such as direct taxes, property taxes, and car registration fees. In fact, property owners are scheduled to pay around 600 million euros during that time period. There are over 7 million property owners in Greece, and the amount of taxes that each of them will need to pay works out to be just over 400 euros per property.

Greece has been in a recession since before the first bailout, which took place in 2010. Because of the multiple bailouts, the Greek people have had to endure a series of austerity measures, including tax increases and wage and pension cuts. The country recently received the first payment from the third bailout, which was necessary so that the country could pay off loan balances to the International Monetary Fund and European Central Bank. The international creditors have always said that Greek government needs to decrease spending and increase revenue.

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