Tax Debt in Greece Surpasses €110 Billion, 23% is Uncollectable

According to figures released by the Greek Parliament’s Budget Office, overdue tax debt has surged another €3.6 billion to a total of €110.6 billion. The increase is due, first, to newly overdue liabilities amounting to €8.6 billion, and second, to debts that were registered later in 2024 and total €2.2 billion. However, 23.8% of the total overdue balance, equivalent to €26.3 billion, is considered uncollectible.

The largest debts to the tax office are owed by 9,830 taxpayers, each of whom owes, on average, more than €8.5 million.

The data also show a rise in the number of taxpayers with overdue debts over €10,000 and a decrease in those with “small” debts. Over the past year, the number of medium and large debtors has surpassed 1.864 million, with their debt increasing by €3.577 billion as of January 2025.

Within this group, the debt grew by €2.012 billion, with the majority of these debtors being businesses. In contrast, 90% of all debtors owe up to €10,000, but their total overdue balance accounts for just 3.6% of total liabilities.

The Debts

An in-depth look at the debtors and their liabilities from the Budget Office in January 2025 shows a decrease of 90,256 individuals and legal entities compared to the same period in 2024, resulting in a total of 3,841,369 debtors. The decline comes from the lower debt categories (up to €500), with the number of debtors in this range falling by 116,474. On the other hand, there was an increase in the number of debtors in higher debt brackets, especially in the €10,000 to €100,000 range, which saw a rise of 20,661 debtors.

Individual (natural person) debts make up 38.5% of the total, reaching €42.5 billion, while legal entities owe €68 billion, representing 61.5% of the total. Breaking down the debts by amount and by type of debtor reveals that in the lower debt brackets, nearly all overdue amounts are owed by individuals.

Specifically, 97.9% of debts under €50 and 87.9% of debts under €10,000 originate from individuals. Conversely, as the size of the debt increases, the role of legal entities becomes more significant in shaping the overdue balance.

In the category of debts over €1 million, legal entities account for 69.5% of the total, with their overdue balance reaching €58.6 billion by the end of January 2025. The number of legal entities that owe more than €1 million stands at 6,060, making up 61.6% of debtors in this high-debt category.

Debt Settlement

Only 4.4% of the actual overdue balance—€3.7 billion—is currently under a payment arrangement. This percentage varies significantly depending on the debt category: lower debts are more likely to be in a settlement program, while high-value debts (over €150,000 for legal entities) mostly remain outstanding.

Source: OT.gr / tovima.com