Hellenic Federation of Enterprises
The leftist-led government is struggling to convince voters that the Greek economy has started to show an upward trend, but data provided by experts provide a different picture.
Overtaxation pushes economic activity underground and kills honest entrepreneurship, says the Hellenic Federation of Enterprises (SEV), stressing that salary workers and pensioners have shouldered most of the burden in recent years while efforts to uncover undeclared taxable income and assets have failed.
The introduction of the capital gains tax in property sales is to be postponed for another year, as the Finance Ministry is preparing an amendment that will likely extend its suspension from end-2016 to end-2017.
The tax, voted into law in 2013, ran into a series of problems and has been repeatedly suspended.
The European Commissioner for Economic and Financial Affairs, Taxation and Customs, Pierre Moscovici is scheduled to visit Greece on November 28 and 29. On Monday, November 28 the European Commissioner will hold a series of crucial meetings with Greek government officials, including PM Alexis Tsipras to discuss matters pertaining to the Greek bailout program.
The rapid deindustrialization of the country has led to the shutdown of at least 18 production units in the last five years from 2012 to 2016.
The latest such incident was the termination of the Pepsico-Ivi plant at Viotia, central Greece, on October 31. Three months earlier, on August 2, listed wire and wire ropes producer Leventeris had shut down its plant near Volos.