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Greek Tax Revenues Fall Short

by Lorys Charalambous, Tax-News.com, Cyprus

22 August 2016


Greek tax revenues fell short of their target for July 2016, but tax receipts have been higher than 2015 levels.

According to a finance ministry statement, the Government collected 94 percent of its July target. However, in a strongly worded statement accompanying the revenue data, the ministry said claims the Government is struggling to meet its revenue targets are much exaggerated.

"[The Government] refutes the persistent efforts of the opposition and the media serving to distort reality and present their own image on revenue," the ministry said.

The ministry emphasized that tax collection figures for the year to the end of July 2016 are much healthier. These show that total income tax revenues were EUR175.5m (USD200m) higher than the total collected in the first seven months of 2015, at EUR6.1bn.

Value-added tax revenues were particularly strong in the first seven months, the ministry said. The office collected EUR8.52bn in VAT revenues during this period, a year-on-year rise of 11 percent.

TAGS: Finance | tax | value added tax (VAT) | Greece | revenue statistics | financial reporting

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