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Total receipts from taxes and social contributions in Greece and Eurozone (% of GDP)

Source: Eurostat, Piraeus Bank Research

In 2014, tax revenues in Greece stood at 39% of GDP, that is circa 2.5 pps less compared to the Eurozone average. It should be noted that the specific ratio is significantly higher in Greece compared to the pre-crisis years, but this is mainly due to the significant decline in GDP rather than improved revenues. According to Eurostat, 2014 tax revenues in Greece, have decreased by an average of 10% over the period 2006-2010.