For the first time in years, Greece’s tax revenue is projected to fall below €70bn. The impact of the coronavirus crisis will also be felt in next year’s revenue. Income statements for 2019 are expected to result in tax revenues of up to €75bn, including €14bn in corporate income tax. That’s projected to fall to between €65bn and €70bn for income produced this year. Falling revenue projections for the state is complicating the process of setting realistic fiscal targets while considering what type of income the country will have to work with in 2021. The only sources of taxable income not hitherto affected by Covid-19 restraint measures are wages in the wider public sector and pensions.
