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July 18th 2018: Happy Tax Freedom Day!

July 18th 2018: Happy Tax Freedom Day!

Today, July 18th, is the first day of the year that Greeks will have the opportunity to choose their own way of managing their income. Until yesterday, for 198 of the 365 days of 2018, we worked only to pay taxes and contributions to the state.

KEFiM’s study on the calculation of Tax Freedom Day was mentioned in 44 newspapers throughout the country, entered in 4 headlines, presented in 17 television programs, a total of 61 radio reports were made and 909 articles were written in online newspapers and blogs. And not in vain! According to our calculations:

This year, taxpayers will work 12 extra days for the state, despite the optimistic oversight of 2.5% in 2018.
In 2018, Greeks will work 50 days for direct taxes, 67 days for indirect taxes and 81 days for social contributions.
The day in which Greeks stop working for the state comes later each year. In 2018, they will work 50 full days more for the state than they did back in the 2009 – that is if the Greek government achieves its goals.
The tax burden on Greeks is similar to that of the Germans and greater than that of Swedish, Finns and Italians. At the same time, Greeks are not satisfied with the quality level of the provided health and education services. Moreover, the justice system is among the lowest of OECD member states.

So, Happy Tax Freedom Day!
Regarding KEFiM, our firm commitment is to continue to capture the real economic conditions in Greece by presenting economic data in a simple and scientific way, as well as to formulate concrete realistic proposals and solutions for the development and welfare of the Greeks, so that the Tax Freedom Day comes earlier next year!

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