Corporate tax rates drive investors away

While most countries in the developed and developing world are reducing tax rates to attract investments, in Greece the corporate tax is the fifth highest among the member-states of the Organization for Economic Cooperation and Development (OECD), according to Ernst & Young.

Its survey titled "The Outlook for Global Tax Policy in 2018," covering the estimates and forecasts in 41 countries around the world, shows that taxation in Greece remains heavy and noncompetitive due to the high rates, and fails to secure higher revenues for the Greek state than other countries do with lower tax rates.

In Greece the corporate tax rate is particularly high at 29 percent, sharing fifth spot with Belgium among the highest rates in the OECD countries, while countries neighboring Greece have rates that range between 10 and 12 percent.

The report notes that after the changes...