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Unpaid Greek Taxes Accumulate

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Greece is experiencing a hike in unpaid taxes that are well past their due date.

Unaccounted for taxes have amounted to 5.2 billion euros as of May, as confirmed by the General Secretariat for Public Revenues. The total amount of both past and previous revenues due, equal 77.8 billion euros, as of May 31st. The majority of aged debt have been determined as non-collectible, as they originate from bankrupt sources, as reported by Kathimerini.

During January through May 2015, the nation received 571 million euros in outstanding dues that were recently owed, while 870 million euros were accepted from matured debts. Less than 300 million euros were determined non-collectible.

The Greek Finance Ministry has stressed that after the June 26th deadline to send in applications that manage revenues owed in a payment plan, the nation will begin to place holds on assets. An extension timeline will not be given to apply for the plan after the deadline's date.