The Alternate Minister of Finances Tryfon Alexiadis announced that taxpayers will have one last opportunity to reveal any undeclared assets or deposits within 2015. Mr. Alexiadis argued that this will allow taxpayers a ‘fresh start’.

Mr. Alexiadis told ERT that the tax rates for any undeclared assets and deposits that are revealed will be rather reasonable. When the asset register comes into effect, he warned, any undeclared assets will be seized, until the relevant inspections are carried out.

Furthermore, the Alternate Minister of Finances commented that a single real estate tax will be introduced in the future, which will take into consideration market values.