The Deputy Minister of Finance Giorgos Mavraganis has approved of a regulation which will allow tax authorities access to investigate bank accounts and loans in tackling tax evasion and money laundering, within 24 hours of making the relevant request to the banks.
The regulation, which will come into effect on the 12th of January, will mark a significant improvement on the current procedures, where audit authorities can wait up to four months before gaining access to the relevant documentation. SDOE, the Financial and Economic Police Unit has welcomed this development as it will facilitate its investigations.
According to Ta Nea, the auditors will not online access to bank accounts and loans, but will be able to access a full banking profile which includes loan, deposit and investment transactions over a ten-year period.
