According to the omnibus bill that will be tabled in Parliament on Monday, tax payers who hide their income and assets, fail to pay VAT and issue false receipts will face criminal prosecution, imprisonment and confiscation of property.
The authorities will be in the position to file claims and prosecute, even if the tax payer has addressed the courts or the relevant Finance Ministry committee. Those who evade taxes for sums over 150,000 will face the confiscation of property, which also includes bank deposit boxes.
Specifically, provisions in the omnibus bills note that 50% of account deposits, 50% of cash contained in deposit boxes and 100% of non-cash valuables (such as jewelry or art work) may be confiscated.
The Alternate Minister of Finances Tryfon Alexiadis, who was asked to comment on the new powers, told Mega Channel on Monday that these provisions will be a powerful weapon in the war against tax evasion, smuggling and corruption.
