Tax Crackdown On Greek Isles Pays Dividend For State
Fahad Shabbir (@FahadShabbir) Published September 22, 2016 | 06:45 PM
ATHENS, (UrduPoint / Pakistan Point News -22nd Sep,2016) - Cash-strapped Greece, under pressure from creditors to improve chronically poor tax collection, has landed a surprising windfall from a cluster of high-end tourist islands, revenue officials said Thursday.
In August, the height of Greece's busy tourist season, sales tax proceeds exceeded targets by nearly 10 percent, the finance ministry said. Overall, revenue from the main tourist islands increased by 62.
3 percent to 32 million Euros ($36 million).
Mykonos led the way, with proceeds from the island that has been a magnet for the international jet set for decades rocketing by 170 percent. Similarly, Rhodes clocked an increase of over 165 percent while Santorini added another 114 percent over forecasts.
The government last year scrapped tax breaks for the top tourist islands, and this year introduced a temporary shutdown for businesses caught evading tax.
Related Topics
Recent Stories
Govt bringing reforms in energy, revenue collection, SOEs: Aurangzeb
Pakistan, New Zealand to face off in 2nd T20I match at Rawalpindi today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 20 April 2024
Today Gold Rate in Pakistan 20 April 2024
Tennis: ATP Barcelona Open results - 1st update
Swiatek's perfect 10 in Stuttgart as Vondrousova stuns Sabalenka
Arandu's roads closed due to flooding
Oil tanker catches fire in Islamabad’s Blue Area
Pakistan committed to ensure safety of foreign nationals: FO
Tennis: WTA Stuttgart results - 1st update
Four passengers injured as train hit an empty vehicle
Over- speeding bus crushed to death two bike riders
More Stories From Business
-
Govt bringing reforms in energy, revenue collection, SOEs: Aurangzeb
58 minutes ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 20 April 2024
4 hours ago -
Today Gold Rate in Pakistan 20 April 2024
5 hours ago -
Pakistan aims to agree outline of new IMF loan in May - Finance Minister
15 hours ago -
FTO commends FBR's role for prompt resolution of tax payers’ issues
15 hours ago -
BISP embraces E-procurement: launches inaugural tender
18 hours ago
-
Business community indebted to Ahsan Zafar for his unprecedented services: Yousuf Rajput
18 hours ago -
China auto sector steps up Europe push with Spain plant
18 hours ago -
Condolence reference held in memory of FBR's officials
19 hours ago -
Health activists ring alarm bells over 10-stick cigarette pack
19 hours ago -
Karachi receives maiden direct flight of Azerbaijan Airlines from Baku
19 hours ago -
PSX turns bullish, gains 619 points
20 hours ago