Burden on Greeks set to ease in January

Every year Greek enterprises and households pay the state taxes and social security contributions amounting to 41.5% of the country's annual gross domestic product, according to Eurostat data for 2018. This amounts to a sum of 76 billion euros. Greece's rate puts it among the countries with the highest burden.

In 2010 taxes and contributions amounted to 34.2% of GDP, rising to 39.6% in 2015, and the 41.5% mentioned above also applied up until mid-2020, as since July contributions have been reduced by 0.9 percentage points.

The processing of data shows that in all countries that resorted to the bailout mechanism except for Greece, corporations and individuals used to and still pay less in taxes and contributions: The Portuguese pay the state a sum amounting to 37.2% of their GDP, the Spanish 35.4% and the Cypriots 33.8%. The Irish fare better than everyone, paying out...

Continue reading on: