Fresh tax arrears of 1.6 bln euros created in January

Taxpayers’ expired debts are growing rapidly. According to figures released on Thursday by the Independent Authority for Public Revenue, Greeks created new tax arrears of 1.63 billion euros in January 2017.

This is one of the biggest rises in debt creation recorded in a single month in recent years and reflects taxpayers’ inability to respond to their obligations.

Notably, that amount does not include any new debts from taxes owed to third parties, or collateral activation, nonpayment of rents, fines etc.

The budget data illustrate that the overperformance of state revenues seen last year has not continued in 2017.