The Finance Ministry is planning to “trap” all those who opened foreign deposit accounts exceeding the amount of 100.000 Euros within a single year since 2009. Therefore, it has demanded from banks to send in lists with names, amounts of money, tax identification number, location etc. to the General Secretariat for Information Systems (GSIS) in order to be able to impose the respective taxation on their owners according to their tax assessment.
This is one of the altogether 12 legislative regulations the Troika has demanded from the Ministry to pass before the end of February, so as to “weigh the obstacles in the recovery of taxes and support the implementation of a new management process in tax functioning”.
Especially, as far as foreign deposits are concerned, the Secretary General of the Finance Ministry, Mr. D. Georgakopoulos has admitted in a recent circular that tax auditors have limited power over charging someone with an unregistered income that has been exposed during their controls.
Additionally, by the end of February, the government needs to pass a bill on the establishment of a court specialized in fast tracking tax controversies, as well as a law that will provide for the establishment of an independent administrative appeal unit within the Finance Ministry, that will be responsible for easily and quickly solving such controversies.