Greece has 60 bln euros in unpaid taxes

Greece has 60 bln euros ($80 bln) in unpaid taxes because of tax avoidance and lack of compliance, a report by the European Commission's task force on Greece said on Thursday.
The figure is equivalent to around 25% of Greek gross domestic product. Greece's total public debt stands at 370 bln euros, or around 160% of GDP.
Of the 60 bln euros of unpaid taxes, half is in uncollected taxes that are already subject to court cases, some of which have been running for more than 10 years, the report said. Only about 8 bln euros is quickly recoverable.
"Even though the actual prospects for collection are very low, the very size of these tax arrears casts a doubt over the efficacy of the overall tax administration," the report said.
"A number of areas for rapid progress have been identified including debt collection, large taxpayers, dispute resolution, and tax audit," the report said.
"There are additional areas for development such as management and organisation of the tax administration, risk and revenue analysis, taxpayer services," it said.
The Commission's Task Force on Greece has the task of identifying and coordinating all technical assistance to Greece to help reforms in the country and boost its economic growth.