level of tax debt

assess under the flat-rate scheme

tax liability

tax debt write-off [ writing off of tax debt ]

High Level Working Party for tax issues | High Level Working Party on Tax Questions | High Level Working Party on Taxation | High-level Working Party | HLWP [Abbr.]

overall tax revenue

assessment at flat-rates | flat-rate assessment

The low level of public debt (around 5 per cent of GDP) and the positive credit rating of the country help to allay immediate stability concerns about the financing of the current account deficit.

8. Underlines the fact that the level of public and external debt in the EU peripheral countries is among the highest in the world, which is proof of the asymmetric nature of the integration process; recalls that this debt originated in large measure in the bailouts of financial institutions that had previously engaged in abusive and speculative practices, thanks to the lack of appropriate regulation and democratic control of the economy; denounces the fact that public debt has been the pretext for the imposition of austerity measures, the consequences of which are increased poverty, the violation of fundamental social and human rights ...[+++], and more debt; considers it imperative to face the burden of debt, renegotiating (restructuring and substantially reducing) it, bringing it to sustainable levels, as a matter of urgency and of elementary justice; calls on the Commission to come forward with a legislative proposal that bans property confiscations by banks that are directed at ordinary citizens who have been negatively affected by the crisis;

Other creditors, including tax and social security authorities.

5/ Proxied by interest expenditure divided by the debt level of the previous year.