Swift completion of a review of the Greek programme and fiscal adjustment not through tax increases but through spending cuts and expanding the tax base the Federation of Hellenic Enterprises (SEB) said during meetings in Brussels with top European officials.
SEB president Theodore Fessas, escorted by Federation members, stressed that enterprises and households are bending under the burden of over-taxation and presented data showing that total average tax burden (wages and contributions) on enterprises and taxpayers significantly surpassed tax burdens in OECD countries, discouraging investments and the creation of more job positions in the private sector.
“A 42 pct of income tax revenue is paid by a 3.0 pct of taxpayers. Tax paying ability of those who systematically support state revenues has been exhausted. That’s why covering any fiscal gap should not come from a new tax strangling of private initiative. It should be achieved through a real expansion of the tax base and full adoption of electronic transactions and e-billing,” Fessas noted.
Remarkable performance and resilience
Regarding the ongoing negotiation with creditors, SEB underlined that the Greek economy has shown remarkable performance and resilience in the last few years which should not be undermined by another prolonged negotiation and requested both from European officials and the government to accelerate completion of the first review. The Federation also requested an acceleration of privatizations and resolving the non-performing loans issue.
SEB expressed the concern of the business world over developments in a refugee influx and underlined the need for a common policy. “Greece gives an uneven struggle in the refugee crisis and has significantly improved -lately with the help of our partners- border controls. We must avoid -at any cost- the return of border controls in Europe as it would undermine all progress made in the last few years and would victimize the single market, European business activity and the European vision,” it concluded.
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