greece income distribution
The Gini coefficient, sometimes called the Gini Index or Gini ratio, is a statistical measure of distribution intended to represent the income or wealth distribution of a nation. It’s an inconvenient truth that doesn’t bode well for the future. All OECD countries levy a tax on corporate profits, but the rates and bases vary widely from country to country. The corporate income tax is a tax on the profits of corporations. In Greece, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labour, pensions, interest and dividends. The findings indicate that the distribution of income and fiscal consolidation as established after the implementation of the EAPs have destabilized the economy both in macroeconomic and financial terms. Greece GINI index was 33.2 % in 2018, down by 0.00% from the previous year. The evolution of the Greek economy during the 19th century (a period that transformed a large part of the world because of the Industrial Revolution) has been little researched. Greece's personal income tax rate, until recently, ranged from 0% for annual incomes below €12,000 to 45% for annual incomes over €100,000. Corporate Taxation in Greece. In the OECD database, income inequality and poverty rates are currently available for income years 1974, 1988, 1994, 1999, 2004, 2008 and 2009. This survey is the main source for comparable statistics on income distribution and social exclusion at European level. Throughout the period displayed, the poorest parts of the income distribution experienced the largest gains. Get this from a library! The 2019 population density in Greece is 81 people per Km 2 (210 people per mi 2), calculated on a total land area of 128,900 Km2 (49,769 sq. Percentage shares by quintile may not sum to 100 because of rounding. At the other end of the income scale, people in the bottom quintile of the income distribution received less than 7.8 % (which was the average in the EU Member States) of disposable income in 12 Member States, among which they had less than 7.0 % in Italy, Spain, Latvia, Lithuania, Bulgaria and Romania (where the lowest share of 5.6 % was recorded). In Greece, the average household net adjusted disposable income per capita is USD 17 700 a year, lower than the OECD average of USD 33 604. (212) 419-8286 Find all indicators on Innovation and Technology. Wages in Greece averaged 1204.85 EUR/Month from 2002 until 2018, reaching an all time high of 1462.20 EUR/Month in August of 2011 and a record low of 939.14 EUR/Month in February of 2002. As the graph below shows, over the past 12 years this indicator reached a maximum value of 7.20 in 2003 and a minimum value of 5.80 in 2012. The value for Income share held by lowest 20% in Greece was 5.90 as of 2015. Organisation for Economic. 25% of workers in Greece earn less than 1,428 EUR and 75% earn over 1,428 EUR. A decile splits the population (by households) into 10 equal parts. In case of further distribution of the reserve formed by tax-exempt dividends received from Greek or foreign subsidiaries established in an EU member state, said amount shall not be included in the taxable income of the legal entity proceeding to said distribution, but may be subject to dividend WHT. A person working in Greece typically earns around 2,430 EUR per month. The Gini coefficient measures the distribution of incomes across income percentiles. Copy the URL to open this chart with all your selections. Answer: The distribution of family income of Greece is 33.00. The value for Income share held by second 20% in Greece was 11.80 as of 2015. Income inequality and growth of living standards across the income distribution in Greece, … This chapter utilises demographic, economic activity, and personal income data from the 2001 Census and the Revenue Service at the local (municipal and post-code) level in order to study income distribution in Greece, and thus provide a better understanding of the factors affecting the economic performance of localities. Greece - Income distribution Income share held by second 20% The value for Income share held by second 20% in Greece was 11.80 as of 2015. Classical economists were concerned with the distribution of income between the main factors of production, land, labour and capital. But let’s face reality in an honest way. The value for Income share held by lowest 10% in Greece was 1.90 as of 2015. Data for high-income economies are from the Luxembourg Income Study database. Source: World Bank, Development Research Group. Permanent residents are taxed on their worldwide income in Greece. Population, Million persons, 1998-2018 (212) 419-8286 Economy Latest Trend Ranking; Composite leading indicator (CLI) Indicator 95.53 Amplitude adjusted Long-term average = 100 Jan-21 Spain Long-term average = 100 Household disposable income Indicator: 1.7 Net Annual growth rate (%) A person working in Greece typically earns around 2,430 EUR per month. This is a decrease of -0.40 % (-42,106 people) compared to population of 10,448,116 the year before. For mor. Population, Annual growth rate (%), 2018, Income inequality, 0 = complete equality; 1 = complete inequality, latest available year, Mathematics performance (PISA), Mean score, 2018 Use this code to embed the country dashboard into your website. The data shown for Greece … The index is calculated from the Lorenz curve, in which cumulative family income is plotted against the number of families arranged from the poorest to the richest. Distribution of gross domestic product (GDP) across economic sectors in Greece 2019 Distribution of the workforce across economic sectors in Greece 2020 Employment in Greece 2021 Poverty continues for many while the share of the richest in the country’s resources continues to increase. Wealth distribution is pretty unequal in Greece. parts of the income distribution. From: HM Revenue & Customs Published: 1 … Try our corporate solution for free! However, as of 1 January 2015 and considering the difficulty in evaluating the taxable basis of such benefits at the time of their granting, no employment withholding is effected thereon. Abstract. Greece The source for global inequality data. Tools of income distribution analysis were utilized for assessing the distributional consequences of adopting an extended definition of income. The GDP value of Greece represents 0.18 percent of the world economy. Salaries range from 620 EUR (lowest average) to 10,900 EUR (highest average, actual maximum salary is higher).. Aspects of income distribution and poverty in Greece . Industrialisation, employment, and income distribution in Greece : a case study. Greece Income Tax Allowance Greece provides most taxpayers with an income tax allowance of €0, which can be kept as a tax-free personal allowance. 97.8 % of disposable income. However, standard approaches to inequality measurement either neglect them or take into account only selected non-monetary items. The Gini coefficient, sometimes called the Gini Index or Gini ratio, is a statistical measure of distribution intended to represent the income or wealth distribution of a nation. The Distribution of Full Income in Greece* Non-cash incomes from either private or public sources can have substantial effects on the distribution of economic welfare. Salaries vary depending on skill, level of education, and experience. Greek law recognizes six categories of taxable income: immovable property, movable property (investment), income from agriculture, business, employment, and income from professional activities. Latest available data for a fixed period, ©
Under the Greek tax law, employers are under the obligation to withhold Greek payroll tax from the remuneration paid to the employees in Greece, on a monthly basis (in Greece salary is payable 14 times per year with 15 payroll runs consisting of monthly payments for January through December, Easter bonus, Summer vacation bonus and Christmas bonus). [Dimitri A Germidis; Maria Negrepontē-Delivanē] Science performance (PISA), Mean score, 2018, Air and GHG emissions, Carbon dioxide (CO2), latest available year, Gross domestic product (GDP), US dollars/capita, 2019, Household debt, % of net disposable income, 2019 Revenues from the Personal Income Tax Rate are an important source of income for the government of Greece. Currently, 84.3 % of the population of Greece is urban (8,831,631 people in 2019) Population Density The 2019 population density in Greece is 81 people per Km 2 (210 people per mi 2 ), calculated on a total land area of 128,900 Km2 (49,769 sq. The value for Income share held by third 20% in Greece was 17.00 as of 2015. Try our corporate solution for free! However, standard approaches to inequality measurement either neglect them or take into account only selected non-monetary items. It is one of the most developed economies in Europe. Throughout the period displayed, the poorest parts of the income distribution experienced the largest gains. The measures will affect both individuals and companies in Greece. The socio-economic importance of these developments can hardly be underestimated as the labour income share has an impact on personal income distribution and social cohesion, the direction of the adjustment in wages and employment, and the composition of aggregate demand, touching thus upon important issues of equity, economic efficiency and macroeconomic stability. Income among its citizens is fairly distributed and its Gini index is 25.6. As the graph below shows, over the past 12 years this indicator reached a maximum value of 26.70 in 2006 and a minimum value of 24.60 in 2003. 1.2. The distribution of income has always been a main concern of economic theory and policy. The value of non‐monetary components was estimated using the appropriate statistical methods and econometric techniques. The Distribution of Full Income in Greece. 16 December 2020: New data are available for Austria, Belgium, Canada, the Czech Republic, Estonia, France, Greece, Korea, Latvia, Lithuania, Luxembourg, Poland, Portugal, the Slovak Republic, Slovenia and Spain (income year 2018), Denmark (income year 2017) and Iceland (income years 2016 and 2017). % of gross national income 2019 Greece % of gross national income: ODA grant equivalent % of gross national income 2018-2019 Greece (red), DAC Countries (black) ... National population distribution Indicator: 35.4 Urban regions Percentage 2014 Greece Percentage: Urban regions Percentage 2014 Greece (red), OECD - Total (black) Modern economists, on the other hand, are concerned with the distribution of income across individuals and households. The average salary in Greece is 2,788 EUR per month. miles). Gini index measures the extent to which the distribution of income or consumption expenditure among individuals or households within an economy deviates from a perfectly equal distribution. Greece Residents Income Tax Tables in 2020: Income Tax Rates and Thresholds (Annual) Tax Rate Taxable Income Threshold; 9%: Income from €0.00: to: €10,000.00 Demographics of Greece 2020. The population of Greece will be declining by 115 persons daily in 2021. Abstract. As of September 2020, this is a list of supermarket chains, past and present, which operate or have branches in more than one country, whether under the parent corporation's name or another name.For supermarkets that are only in one country, see the breakdown by continent at the bottom of this page. The dashboard should have a minimum width of 768px to be displayed properly. Greece was also an exception in that it was the only Member State to record an overall fall in its gross household adjusted disposable income during the period under consideration. The economic crisis in Greece has meant a severe drop in living standards, incomes for the poorest are back to where they were in the 1980s. A modified scale is used to calculate equivalent size of household. Definition: Percentage share of income or consumption is the share that accrues to subgroups of population indicated by deciles or quintiles. The value for Income share held by fourth 20% in Greece was 23.50 as of 2015. As the graph below shows, over the past 12 years this indicator reached a maximum value of 42.10 in 2013 and a minimum value of 39.90 in 2003. As the graph below shows, over the past 12 years this indicator reached a maximum value of 2.80 in 2003 and a minimum value of 1.90 in 2012. The study employs the microdata of the 2004/2005 Greek Household Budget Survey. Non-cash incomes from either private or public sources can have substantial effects on the distribution of economic welfare. The results indicate that inequality declines sharply when we move from the distribution of disposable monetary income to the distribution of full income, that includes both cash and non-cash incomes. Resident companies pay tax on worldwide income, while non-resident companies only pay tax on Greece-sourced income, at the same rate as resident companies. Slovenia . Greece and Cyprus were the only exceptions (for which data are shown in Figure 5), as the largest contribution to their overall change was for gross operating surplus and mixed income. As the graph below shows, over the past 12 years this indicator reached a maximum value of 12.50 in 2009 and a minimum value of 11.70 in 2012. The data shown for Greece are taken from the OECD. Using data for Greece in the mid 2000s we show that it is possible to incorporate a comprehensive list of non-monetary components into the analysis of income inequality. Income Distribution Database : by ... Belgium, Canada, the Czech Republic, Estonia, France, Greece, Korea, Latvia, Lithuania, Luxembourg, Poland, Portugal, the Slovak Republic, Slovenia and Spain (income year 2018), Denmark (income year 2017) and Iceland (income years 2016 and 2017). The difference between the most paid and the lowest paid fields is 223.00%. Both private … The Gini coefficient or Gini index is a statistical measure of distribution to represent the income or wealth of a country’s residents. Of the indices used here the Gini index is relatively more sensitive to changes in the middle of the income distribution, ATK0.25 is more sensitive to changes close to the top of the distribution while ATK0.75 and the MLD are more sensitive to changes close to the bottom of the distribution (Lambert, 2002; Cowel, Income levels and changes over time had no influence on population re-distribution over Greek prefectures, indicating a substantial decoupling of demographic growth from income growth. Abstract. Household net adjusted disposable income is the amount of money that a household earns each year after taxes and transfers. As the graph below shows, over the past 12 years this indicator reached a maximum value of 17.30 in 2011 and a minimum value of 16.70 in 2005. Distribution of Income or Consumption by Percentage Share: Greece Lowest 10% 3.0 Lowest 20% 7.5 Second 20% 12.4 Third 20% 16.9 Fourth 20% 22.8 Highest 20% 40.3 Greek branches of non-resident credit institutions are taxed at a rate of 29% if they are subject to the … Assuming there are 26 million households in the UK (2013/14) The bottom decile is the 2.6 million households with lowest income… Income deciles show the average income for different income groups in society. General government debt, % of GDP, 2019, Household debt: This statistic shows the distribution of the gross domestic product (GDP) across economic sectors in Greece from 2009 to 2019. Developed by Italian statistician Corrado Gini in 1912, the Gini coefficient is the most commonly used measure of inequality. Any opinions expressed here are those of the author(s) and not those of IZA. On 27 February 2020, Greece’s Ministry of Finance issued a decision (A1036/2020) establishing the conditions and procedure for high-net worth individuals who transfer their tax residence to Greece to qualify for alternative lump sum taxation under article 5A of Law 4172/2013 (Income Tax Code (ITC)). This table shows the percentile points of the income distribution, estimated from the Survey of Personal Incomes each year. March 2013; International Journal of Social Economics 40(4):311-330; DOI: 10.1108/03068291311305008. Use this code to embed the visualisation into your website. It's ranking among other countries is 96. According to 2002 stats, 10% of the population owns 25.3% of the income distribution, while another tenth of the population holds only 3% of the total income distribution. Regarding income distribution, Iceland comes second in the list of countries with the most equal distribution of income. The economic crisis in Greece has meant a severe drop in living standards, incomes for the poorest are back to where they were in the 1980s. The Gini coefficient was developed by Italian statistician Corrado Gini in 1912 and is the most commonly used measurement of wealth or income inequality. This statistic shows the government revenue and spending in Greece from 2015 to 2019, with projections up until 2025. Definition: Percentage share of income or consumption is the share that accrues to subgroups of population indicated by deciles or quintiles. Greece's tax credit is a A tax credit is a fixed amount of money that may be kept by taxpayers without paying any income taxes. Open access, high quality wealth and income inequality data developed by an international academic consortium. Greece’s parliament adopted a law (Law 4472/2017) on 19 May 2017 that makes changes to several tax laws, including the Income Tax Code (ITC), the Tax Procedures Code (TPC) and the Annual Real Estate Ownership Tax (AREO). The OECD Income Distribution Data for Greece are computed using data from the Household Budget Survey (HBS) and are provided by the Bank of Greece. Recent research from 2006 examines the gradual development of industry and further development of shipping in a predominantly agricultural economy, calculating an average rate of per capita GDP growth between 1833 and 1911 that was only slightly lower than that of the other Western European nations. The employer's contribution amounts to 24.56% of the salary. Summary of Income distribution By ethnicity (before housing costs) Summary . The Greek source income of the individuals subject to the alternative taxation method should be reported in the annual income tax return and taxed according to its classification, whilst their foreign source income is not subject to reporting and is taxed based on the lump sum tax. Largest Cities in Greece # CITY NAME POPULATION; 1: Athens: 664,046: 2: Thessaloniki: 354,290 : See also. As the graph below shows, over the past 12 years this indicator reached a maximum value of 12.50 in 2009 and a minimum value of 11.70 in 2012. The Human Capital Index (HCI) database provides data at the country level for each of the components of the Human Capital Index as well as for the overall index, disaggregated by gender. The latest study by the Turkish Statistical Institute (TÜİK) revealed that income distribution has continued to deteriorate over the last few years. This is the average monthly salary including housing, transport, and other benefits. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments. Note: This page was last updated on December 28, 2019, Home | About | Search | Site Map | Blog | Indicadores en Español. Research published in this series may include views on policy, but the institute itself takes no institutional policy positions. As the graph below shows, over the past 12 years this indicator reached a maximum value of 23.50 in 2015 and a minimum value of 22.50 in 2008. 16 Dec. 2020: New data are available for Austria, Belgium, Canada, the Czech Republic, Estonia, France, Greece, Hungary, Korea, Latvia, Lithuania, Luxembourg, Poland, Portugal, the Slovak Republic, Slovenia and Spain (income year 2018), Denmark (income year 2017) and Iceland (income years 2016 and 2017). Currently, 84.3 % of the population of Greece is urban (8,831,631 people in 2019) Population Density. Greece The Human Capital Index (HCI) database provides data at the country level for each of the components of the Human Capital Index as well as for the overall index, disaggregated by gender. The value for Income share held by highest 10% in Greece was 26.20 as of 2015. Gini index measures the extent to which the distribution of income or consumption expenditure among individuals or households within an economy deviates from a perfectly equal distribution. miles). As of 1 January 2021, the population of Greece was estimated to be 10,406,010 people. of LaborThe Distribution of Full Income in Greece . An employer is obligated to deduct tax at source from an employee and to make additional contributions to social security as in many other EU member states.