The Ministry of Finances’ tax services for large property will audit 354 overseas taxpayers who appear to have transferred large sums of money overseas between 2009 and 2011.
The General Secretary of Public Revenue Haris Theoharis explained that 0.65% of the 54,000 taxpayers who transferred funds overseas accounted for 10% of total funds. The General Secretary explained that all taxpayers will eventually be audited.
The tax services will investigate expenses for utilities, living, traveling, repair and maintenance of vehicles, loan installments and other such transactions. By comparing the balance of the incomes (both taxable and non-taxable), purchases and expenses with the overall change in assets, the tax services will be able to determine the extent of tax evasion.
