New on­line reg­is­ter to in­clude all prop­er­ties, shares, money abroad

Kathimerini English - - Focus - BY PROKOPIS HATZINIKOLAOU

Tax­pay­ers will have to de­clare in­come from abroad, hold­ings in for­eign com­pa­nies and prop­erty as­sets and cap­i­tal in other coun­tries in the on­line as­set reg­is­ter (“Pe­ri­ousi­olo­gio”) that the Gen­eral Sec­re­tar­iat for Pub­lic Rev­enue will in­tro­duce in 2017, which will also in­clude all tax­payer data stored by the tax au­thor­i­ties.

Ac­cord­ing to a top Fi­nance Min­istry of­fi­cial, by the end of the year a reg­u­la­tion will be sub­mit­ted to Par­lia­ment that will force all Greek tax­pay­ers to de­clare the as­sets and in­come listed above in the as­set reg­is­ter. Even if tax­pay­ers do not do so vol­un­tar­ily, Au­to­matic Ex­change of In­for­ma­tion agree­ments with 84 coun­tries mean that the tax au­thor­i­ties can quickly get the re­quired data them­selves.

All that data will be added to the on­line pro­file of each tax­payer and if there are any er­rors or dis­crep­an­cies they will be in­vited to make cor­rec­tions and con­tinue to up­date their per­sonal data on an an­nual ba­sis.

As the same min­istry of­fi­cial ex­plains, there will be a spe­cial form on the sec­re­tar­iat’s Tax­is­net website onto which the data the tax au­thor­i­ties al­ready have will be au­to­mat­i­cally trans­ferred. This will in­clude data on real es­tate, boats, cars, cor­po­rate hold­ings and bank ac­counts etc, which tax­pay­ers will have to con­firm and, if nec­es­sary, add what­ever has not been in­cluded.

Be­sides the in­for­ma­tion al­ready on Tax­is­net, banks will con­trib­ute de­tailed in­for­ma­tion on their clients, in­clud­ing the num­ber of ac­counts of each tax­payer and their bal­ances at end2016.

The min­istry of­fi­cial adds, how­ever, that the idea of also in­clud­ing as­sets such as jew­elry, mat­tressed cash and works of art has been aban­doned. The value of pre­cious items can­not be es­tab­lished ob­jec­tively, so they will be left out of the on­line as­set reg­is­ter.

All data col­lected will be up­loaded on a spe­cial form on Tax­is­net.

Ac­cord­ing to the plan, the on­line ap­pli­ca­tion will be ac­ti­vated just be­fore the pe­riod for the sub­mis­sion of in­come tax dec­la­ra­tions next year (for the 2016 in­comes) for tax­pay­ers to check and up­date the data up­loaded on their pro­file. An email sent to all tax­pay­ers will ask them to con­firm the data or make any nec­es­sary mod­i­fi­ca­tions be­fore a cer­tain dead­line.

Min­istry of­fi­cials stress that it is in the tax­pay­ers’ in­ter­ests to de­clare as­sets the tax au­thor­i­ties are not aware of, as any changes in tax­pay­ers’ bank ac­counts which can­not be ex­plained will in­cur a fine.

There will be a spe­cial form on the Tax­is­net website onto which the data the tax au­thor­i­ties have will be au­to­mat­i­cally trans­ferred. This will in­clude data on real es­tate, boats, cars, cor­po­rate hold­ings and bank ac­counts etc.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.