Tax returns to private sector totaled 1.6 bln euros in September

Tax returns to taxpayers and enterprises totaled 1.6 billion euros in September, the Independent Authority for Public Revenue said.

George Pitsilis, head of the Authority, has asked all tax agencies in the country to provide detailed information concerning pending tax returns in an effort to speed up procedures. State arrears from tax returns (exceeding 90 days) totaled 2.5 billion euros on September 1 and fell to 1.25 billion euros on September 29, reflecting tax returns worth 1.3 billion euros and another 300 million euros in tax returns from new arrears created during the month.

The tax return programme significantly contributes to the repayment of state arrears related with the disbursement of a sub-tranche worth 800 million euros envisaged in an agreement reached with the country’s creditors. The sub-tranche will be disbursed exclusively for the repayment of state arrears to the private sector. The agreement envisages the repayment of state arrears worth 1.2 billion euros in order to disburse the 800-million-euro sub-tranche by the end of October.