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> Economy

Tax bureau to scrutinize bank accounts to find hidden assets of wealthy depositors

A register of off-shore companies will be activated by the end of the year as well

Newsroom February 26 08:16

The tax bureau will reportedly step up scrutiny of bank accounts in order to find hidden assets of wealthy depositors, an initiative that now appears as a pressing goal for the new Greek government, given its pledge towards EZ creditors to crack down on tax evasion and amid decreasing state revenues.

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At the same time a new tax unit dealing with taxpayers with major asset holdings is preparing to introduce new statements of means and assets, which will allow the state to calculate tax based on actual wealth rather that the previous objective tax criteria.

Furthermore, a register of off-shore companies will be activated by the end of the year, while automated alert systems (via email or telephone) informing citizens of tax obligations will also be activated.

Finally, monthly targets against tax evasion and on increasing revenue will be instituted.

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