Tax Crackdown On Greek Isles Pays Dividend For State

Tax crackdown on Greek isles pays dividend for state

ATHENS, (Pakistan Point News - APP -22nd Sep,2016) - Cash-strapped Greece, under pressure from creditors to improve chronically poor tax collection, has landed a surprising windfall from a cluster of high-end tourist islands, revenue officials said Thursday. In August, the height of Greece's busy tourist season, sales tax proceeds exceeded targets by nearly 10 percent, the finance ministry said. Overall, revenue from the main tourist islands increased by 62.

3 percent to 32 million Euros ($36 million). Mykonos led the way, with proceeds from the island that has been a magnet for the international jet set for decades rocketing by 170 percent. Similarly, Rhodes clocked an increase of over 165 percent while Santorini added another 114 percent over forecasts. The government last year scrapped tax breaks for the top tourist islands, and this year introduced a temporary shutdown for businesses caught evading tax.