The Alternate Minister of Finances Nantia Valavani has announced that the government is stepping up its efforts to combat the serious tax evasion problem in Greece, by introducing a bank account register, following that of an asset register.
Mrs. Valavani [pictured] revealed that the new tax bill, which will be introduced in the second half of 2015, will address the tax evasion problem, by accurately determining the wealth of tax payers by cross-referencing data on assets and bank account deposits.
The new bank deposit register will allow auditors to determine whether a taxpayer is hiding undeclared income, as it will detail transactions going back 15 years. At present the government does not have an accurate picture of the extent of the taxpayer’s wealth, nor how or when the wealth was generated.
In order to paint a detailed picture though, the government is currently in the process of discussing the exchange of relevant banking data with other countries, such as Switzerland and other EU member states.
