Greek businesses driven out by high taxes, says Athens Business Chamber

The Athens Chamber of Commerce & Industry (EBEA) has issued a leaflet in its effort to shed light on the dire economic environment for Greek businesses. The leaflet, tilted ‘Who is driving Greek business away’, highlights some of the key factors that contribute to the suffocating conditions for businesses in Greece, including excessively high tax rates, the economic recession, and lack of liquidity in the market. Hundreds of businesses are forced to either shut down every month or relocate abroad to survive, according to the data. In addition to that, employer social security contributions stand at 24.6 percent, 10 points more than competing companies in neighbouring countries, while the VAT is 3 percent more than the average of the Balkan countries. President of EBEA Konstantinos Michalos said that the business tax in Greece stands at 29 percent, which is the highest in the wider Balkan area, including Turkey and Italy. ‘Strong business means a strong economy and jobs’, Michalos pointed out.