Pages

Welcome, 77 artists, 40 different points of Attica welcomes you by singing Erotokritos an epic romance written at 1713 by Vitsentzos Kornaros

Wednesday, April 15, 2015

Families Pay More Taxes than Singles in Greece

Families in Greece pay more taxes and social security contributions than any of the 34 OECD member-countries. According to a study conducted by the Organization for Economic Co-operation and Development (OECD), single people in Greece pay less taxes than families. The study showed that if you are Greek and have a family with two children, 43.4% of your gross income goes to taxes and social security contributions, much more than the OECD average that stands at 26.9%. Even if a Greek family gets all the state allowances available, social security and taxes are still 3% more than a single individual has to pay. In the rest of the OECD countries, families get more tax benefits than singles, with their tax burden being 9.1% less than that of a single individual. Following Greece in high taxation for families with two children are Belgium (40.6%) and France (40.5%), while the lowest percentages are in New Zealand (3.8%), Chile (7%), Switzerland (9.8%) and Ireland (9.9%). In 2014, Greek singles paid 40.4% of their income in taxes and social security contributions, while the average in OECD countries is 36%. The tax burden for employed people went up 3.1% between 2010 and 2011 but then dropped at 2.8%. However, Greek singles fare much better than the Belgians who see 55.6% of their gross income going to taxes and social security contributions. In Austria it’s 49.4%, in Germany 49.3% and in Hungary 49%. On the other end, single workers in Chile pay just 7% of their income in taxes and social security contributions, 17.2% in New Zealand and 19.5% in Mexico.


READ THE ORIGINAL POST AT greece.greekreporter.com