September 28, 2022

News Cymru

Two sides to every headline

The 15% Income Tax Greeks Don’t Know About

This is the article in Yahoo! – It put a completely new perspective on fuel taxes, bravo, Yahoo!

Highlights

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The full table

Country
Price per litre (£)
Percentage of monthly income spent on petrol*
1. Norway 1.64 7.4%
2. Turkey 1.62 34.2%
3. Netherlands 1.48 10%
4. Italy 1.46 15.5%
5. Greece 1.45 25.4%
6. Denmark 1.43 8.1%
7. UK 1.42 10.3%
8. Sweden 1.41 7.7%
9. Eritrea 1.41 61.1%
10. Belgium 1.4 8.7%

*Monthly petrol costs are based on an individual owning a car that does 37.8 MPG, driving 12,000 miles a year.

Government taxes on petrol are around 60-70% in Greece.

60% of 25.4% is 15%.

Greeks pay an extra income tax of 15% of their earnings in addition to the 20% income tax they already pay.

In case anyone was unsure if Greeks were under attack, this should put any uncertainty to rest.

To put this into perspective, fuel prices in Greece have increased by around 60%  in 3 years.

And this income tax ignores the effect the fuel taxes have the price of every product for sale in Greece, a double whammy, people have less money and things are more expensive.

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