40 Properties Up for Auction – €112.5B in Overdue Taxes Sparks Alarming Surge

Is Greece on the brink of a new fiscal crisis? The skyrocketing overdue debts to the State, surpassing €112.5 billion, are sending shockwaves through the property market and putting pressure on government policy. By June 3, the AADE has scheduled the auction of at least 40 properties, ranging from small underground storage units and farmland to industrial facilities and old houses, with starting prices between €7,000 and €3.5 million.

This situation highlights a widespread fiscal instability, with over 2.3 million taxpayers at risk of bank account freezes and property seizures. The wave of debts affects individuals, retirees, employees, and businesses, struggling to pay VAT, income tax, and property tax.

The corporate side of the crisis is equally alarming: total business debts exceed €70 billion, with publicly listed companies accounting for 58% of this total, around €40 billion. Limited liability companies (LLCs) follow with €13.38 billion, while other legal entities carry smaller overdue amounts.

Experts warn that the inability to collect taxes and the continuous growth of overdue debts is not only an economic problem but also a political challenge, raising questions about the credibility of tax policy and social cohesion. Meanwhile, property auctions may pressure the real estate market, hitting small investors and households.

The government faces the challenge of balancing tax collection with protecting vulnerable citizens, as the current situation risks evolving into a new economic and social crisis.

Source: pagenews.gr

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