Fitch maintains Greek 'BB' rating with stable outlook amid some lack of visibility
Economic sentiment stable in June, but consumer confidence drops
BoG sees growth of 4.2 pct this year but warns of multiple challenges ahead
Unemployment edges down to 16.3 pct in March as inactives approach 3.5 mln
Greece raises another 2.5 bln with reopening of sought-after 10-yr bond
IMF raises outlook on Greek debt sustainability to merely 'uncertain'
Study estimates tax evasion costs taxpayer up to 16 bln annually
Tax evasion in Greece is estimated to range from 6 to 9 percent of GDP, involving tax losses from 11 to 16 billion a year – the equivalent of almost one third of public revenues – according to a new study conducted by Ernst and Young for the Athens-based think tank Dianeosis.
In specific, the study showed that foregone revenues from individuals (mostly the self-employed) range from 1.9 to 4.7 percent of GDP, while the respective figure for VAT stands at 3.5 percent. In addition, lost revenue as a result of alcohol, tobacco a...
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