Greek Public Revenue Service Goes After €8 Bln in Debts to State

Tuesday, April 4th, 2017
Last Update: 20:08

Greece’s Independent Authority for Public Revenue (AADE) is to go after taxpayers in order to collect 3.5 billion euros from old debts and 4.5 billion expected to be generated in 2017.

AADE is planning to collect the funds from taxpayers who owe taxes and security contributions to the state by seizing the bank accounts of those who try to dodge their dues.

Official figures show that in 2016 there were 1,553,451 seizures of bank accounts and rent payments, increasing public revenues by 128.6 percent compared to 2015, while there is a 80.6 percent of increase in confiscation orders issued by tax authorities.

According to the figures, one in two economically active Greeks owes money to the State, specifically 4.3 million citizens. The vast majority of them owe 2,000-3,000 euros, or 1.8 percent of total debts to the state, which amount to 93 billion euros.

About 5,000 debtors owe over 1.5 million euros each, totaling 72 billion euros. Also, there are 69 taxpayers who owe over 100 million euros to the Greek State, totaling 28.6 billion euros.

Out of the total debts to the State, only about 11.5 billion euros can be collected because they are debts generated in the past six years, most of them from income tax and VAT. A total 35.5 billion euros cannot be collected because they are fines imposed that debtors are unable to pay. Therefore the government will go after those who owe small amounts that can be collected. Initially, AADE has scheduled 97,000 phone calls and text messages to alert debtors.

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