Trade group study: 4 out of 10 small-to-micro enterprises in Greece to turn to 'grey economy'

Four out of 10 small-to-micro businesses in Greece are expected to transfer their commercial activities to the so-called "grey" or "underground economy" over the coming period due to a consolidation of increasingly high taxes of all shapes and forms, such as advance payment of income taxes, VAT rates, special surcharges and a 29-percent tax on profits.