The size of the black economy in Greece reaches 20.9% of the country’s Gross Domestic Product, Bank of Greece governor Yannis Stournaras said on Tuesday, ANA reports.
In Greece, despite the fact that it is difficult to assess the exact size of tax evasion, several surveys highlighted that the problem is bigger than in other countries and as a result, it should become a priority to combat tax evasion and promote a more fair distribution of tax burdens. Stournaras said tax evasion was more evident among self-employed and very small enterprises, but tax evasion was notable also in indirect taxation with Greece recording the fourth highest VAT gap in the EU, equal to 19.7% of total VAT (or 3.0 billion euros).
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