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New wealth statements will need to declare all household items, including kiddies toys!

Look through your drawers, pockets, and in those forgotten hard-to-get-to areas around your house...

Newsroom December 1 09:41

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A ministerial decree signed by the justice and finance ministers require Greeks to declare all valuables in their wealth statements henceforth. These include precious gems, jewelry, valuables and sums of cash exceeding 15,000 euros that they keep in their home.

The decree, signed on Tuesday, means that wealth statements for 2016 need to be submitted electronically and are required to include all household valuables whose total estimated worth exceeds 30,000 euros, including those belonging to children. These statements will have to be submitted even in cases where there is no chane in wealth status.

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The new electronic wealth statements will automatically draw key figures from income tax returns.

The electronic platform for the wealth statement – which is currently only mandatory for MPs, journalists and state officials – is to act as a pilot for creating an electronic wealth register that is to be eventually extended to all tax payers.

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