Greek government owed 214 billion dollars from tax arrears

According to data from the Independent Authority for Public Revenue, the Greek government is owed so much in tax arrears from households and companies that it could pay off more than half its huge public debts, that is of course if they were able to collect it all.

The Associated Press reports that new data has revealed tax arrears totalled 182.5 billion euros ($214 billion) on August 10, this is according to a note sent from the Independent Authority agency to parliament last week.

However, more than 80 billion euros of that represents interest and fines on delayed payments from debtors that include companies that have been out of business for decades.

Currently, some 3.7 million Greeks — about 60 percent of the total — are behind on tax payments.

*Source: The Associated Press