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Significant tax burden on Greek companies |
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| According to the findings of a survey conducted by the World Bank and PWC Greek limited liability companies, that commenced operations in 2004, rank in 4th place among OECD countries as far as their 2005 tax rate is concerned expressed as a share of commercial profits. The total tax rate is 60.2% for these companies and includes social security contributions. Italy bears the highest rate 76% and Switzerland the lowest, i.e. 24.9%. The survey also used a tax payment indicator and a time to comply (time to prepare, file and pay) indicator and Greek companies ranked in 3rd place (along with France, 33 tax payments annually) and 15th place (204 hours per year) respectively. Companies in 90% of surveyed countries rank tax administration among the top five obstacles to doing business. |
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