Tax of­fi­cials col­lect 250 mln from hid­den wealth checks

Kathimerini English - - Focus - PROKOPIS HATZINIKOLAOU

More than 62,000 Greeks have paid some 250 mil­lion eu­ros in taxes as part of a so­called vol­un­tary scheme to de­clare tax­able in­come and wealth that was pre­vi­ously hid­den.

Ac­cord­ing to sources, around 80 per­cent of the tax­pay­ers con­cerned did not ac­tu­ally come for­ward vol­un­tar­ily but in­stead were sum­moned by the tax author­i­ties to answer ques­tions as in­spec­tors who had checked lists and bank trans­ac­tions had found dis­crep­an­cies be­tween what had been de­clared and what those con­cerned pos­sessed in terms of as­sets.

Those who came for­ward vol­un­tar­ily did so to pay less as they faced fines that rose to 120 per­cent of the amount of tax that was ac­tu­ally due. Ac­cord­ing to sources, no­body came for­ward to de­clare un­de­clared in­come that had not been dis­cov­ered by tax of­fi­cials.

Nev­er­the­less, the amount that has been col­lected is deemed to be sig­nif­i­cant and ex­ceeds the ex­pec­ta­tions of tax of­fi­cials, who had thought they would gather less than 200 mil­lion eu­ros.

Ac­cord­ing to data pro­vided by the In­de­pen­dent Author­ity for Pub­lic Rev­enue, a to­tal of 62,000 tax­pay­ers have been through the scheme as a re­sult of around 4 bil­lion eu­ros in un­de­clared wealth be­ing dis­cov­ered. The amounts that are be­ing un­cov­ered tend to range be­tween 100,000 and 300,000 eu­ros. Author­i­ties have col­lected 250 mil­lion eu­ros in rev­enues so far.

Any­one who joins the scheme must pay the tax that is due within 30 days or en­ter a pay­ment plan that al­lows them to set­tle their debt to the tax of­fice in 12 to 24 monthly in­stall­ments.

The sub­mis­sion of a vol­un­tary dec­la­ra­tion does not mean that the mat­ter is closed for in­di­vid­u­als and busi­nesses that go through the scheme, as the tax author­i­ties re­tain the right to check the ap­pli­cants’ en­tire range of wealth and as­sets, re­gard­less of what they de­clare on their own.

The amounts that those who ap­ply or are called in by tax of­fi­cials have to pay ranges be­tween 30 and 60 per­cent of the un­de­clared money. The ex­act charges de­pend on the pe­riod of time for which the amounts in ques­tion have been hid­den from tax of­fi­cials.

Tax author­i­ties will be send­ing out no­tices to tax­pay­ers they be­lieve have un­de­clared in­come un­til Septem­ber 30.

Some 62,000 tax­pay­ers have been checked.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.