Greeks work for nearly two-thirds of the year just to raise enough money to pay their taxes.
According to the results of new research conducted by the Greek think-tank Dragoumis Center for Liberal Studies (KEFIM) to raise awareness about tax freedom day –the first day of the year in which a country has theoretically earned enough income to pay its taxes… Greek taxpayers need to spend 203 days working this year in order to earn enough to simply cover their annual tax bill.
The new research shows that in 2017, Tax Freed Day, in Greece will fall on July 23rd, which means that Greeks will have worked 15 days more than last year, when tax freedom day arrived on July 7. The only two European Union countries in which tax freedom day will arrive after that in Greece are France and Belgium.
Tax Freedom Day is a theoretical measure of how long it takes the average taxpayer to pay off their tax obligations.
The date of Tax Freedom Day this year is 15 days later than in 2016, and nearly 2 months later than in 2006.
Only two countries in the EU have a Tax Freedom Day falling later than Greece, being Belgium and Greece.
Conversely, some countries saw Tax Freedom Day fall much earlier in the year, with Cyprus leading the pack at March 29th, while Malta and Ireland did the same on April 18 and 30 respectively. Bulgaria was next on May 18 before Finland on June 22.
KEFIM, which conducted research into the topic for a third straight year, said citizens are working an increasing number of days each year to meet their tax obligations and, compared to 2006, Greeks now work two months more to this end.
Referring to the results of the research, financial analyst and member of KEFIM’s scientific council Miranda Xafa said the “government managed to achieve a primary surplus by tax hikes and not through spending cuts.”
Xafa also said that for every 100 euros a self-employed professional makes, 82 go toward tax and and other contributions.
New Democracy vice president Adonis Georgiadis said that Greece had “lost another month because of overtaxation.” “Our aim when we become the government is to reverse the trend,” he said.