2024-06-25 15:24:04
For the tenth 12 months in a row, KEFIM presents the examine on Tax Freedom Day, i.e. the day when taxpayers could be free of the burden of taxes, if with the cash they earned from their work they needed to, earlier than protecting their very own wants, to first repay their obligations to the state.
June 25 is Tax Freedom Day for 2024 in accordance with the federal government’s tax and social safety income forecasts. This 12 months, in accordance with the survey, we are going to work for the state 175 out of 12 months of the 12 months, 3 days lower than in 2023.
The 175 working days for the state predicted for 2024 is the bottom tax burden in 10 years.
From 2019 to the 2024 projections, the tax burden has decreased by 6 days, from 181 to 175 days.
If the Normal Authorities deficit for 2024 is factored in, which represents future taxes, then Tax Freedom Day for 2024 comes 5 days afterward June thirtieth.
In keeping with ELSTAT’s accounting information, in 2023 we labored for the state for 178 days (HFE: June 28), whereas if the deficit of the Normal Authorities is taken into consideration, then the Tax Freedom Day for 2023 got here 7 days later, on July 5.
Among the many 27 EU member states, Greece has the eleventh lowest tax burden (together with deficits), enhancing its efficiency by 10 locations in comparison with 2022, when it was in twenty first place.
How a lot our taxes “happen”.
In keeping with OECD information, the satisfaction of Greek residents (2023) with the well being system is the bottom among the many 21 EU member states for which there are information, whereas, correspondingly, within the satisfaction of residents with the schooling system and the judicial system, the nation is ranked sixteenth and seventeenth respectively.
Commenting on this 12 months’s outcomes, the Director Normal of the Middle for Liberal Research Nikos Rompapas acknowledged:
“The discount within the tax burden recorded lately on Tax Freedom Day is a constructive growth to start with for residents and households dealing with the wave of accuracy. This tax reduction, which can be the principle axis of the proposals submitted by the particular consultants within the framework of the Financial Freedom Evaluation of our nation, is anticipated to enhance Greece’s place within the Financial Freedom Index and additional strengthen new investments, employment and prosperity.
In any case, the discount of the tax burden, but additionally the additional readjustment of the tax system within the route of better simplicity, neutrality and stability should proceed. A tolerable, easy, impartial and steady tax system is a prerequisite for the dynamic growth of the nation, the actual strengthening of family incomes and the sustainable strengthening of state revenues”.