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Unpaid taxes in Greece expected to reach €13b in just 12 months

Authorities order confiscations of pensions and bank deposits to recover money owed by tax payers

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11 August 2017

Money owed to the Greek state increased by €5.47 billion (A$8.15 b) in the first half of 2017 - and Finance Ministry officials are expecting that figure will more than double as the year draws to a close.

Data published by the Independent Authority for Public Revenue has revealed that the total amount of money owed to the Greek state, by some 3.8 million individuals and businesses is €95.6 billion (A$142.49 b).

There's no denying the significance of the sum, however with one in three taxpayers having failed to make their tax installment by the July deadline, it is clear to see how the amount had steadily increased each month; a trend that officials expect to continue as new and increased obligations for income tax and the ENFIA property levy are introduced.

To ensure some money is recovered, authorities are said to be ordering 900 confiscations of pensions and bank deposits a day, reports Kathimerini, with the hope to recover between €4-5 billion (A$5.9-$7.4 b) by the end of the year.

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