GGeer­rm­maan­nyy’’ss HHooc­ch­ht­ti­ieeff iiss ttoopp ttaaxx eev­vaad­deerr

Financial Mirror (Cyprus) - - FRONT PAGE -

The Ger­man con­glom­er­ate that built and op­er­ated the “Eleft­he­rios Venizelos” Athens In­ter­na­tional air­port seems to be the big­gest tax evader in Greece.

A court in Athens found that Hochtief Air­port GmbH did not pay VAT for 20 years and will prob­a­bly have to pay more than 500 mln euros for VAT ar­rears.

To­gether with other out­stand­ing pay­ments, such as so­cial se­cu­rity con­tri­bu­tions, Hochtief might have to pay more than 1 bln euros, much more than the 400 mln euros Greek em­ploy­ees saw in wage cuts, largely blamed to the aus­ter­ity mea­sured im­posed by the Troika of in­ter­na­tional lenders, pri­mar­ily Ger­many.

Hochtief, which is the big­gest con­struc­tion company spe­cial­is­ing in op­er­ated the Athens In­ter­na­tional air­port through a sub­sidiary un­til 2013, when it sold it’s share to the Cana­dian pen­sion fund PSP In­vest­ments for 1.1 bln euros.

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