Liability dues totaling 5.8 million Euros are owed by citizens living abroad with real estate property on fair market value territory of 283.8 million Euros. This resulted from cross-examinations made by the General Secretariat of Information Systems of the Ministry of Finances on Tax Office debtors, living abroad with property register information.
The Ministry of Finances will provide, as it was announced, a deadline until the 4th of March 2011, so that the debtors can fully repay their debts. After this period, debt collection activities will be implemented, including auctions for those who do not respond to this invitation.
Furthermore, it was also found that 170 out of the 382 debtors have not declared income subject to tax for the period of 2008 – 2010, while out of the 77 taxpayers with Special Tax of Real Estate Property value of over 1 million Euros. 62 either do not submit a tax declaration, or their declared income is less than 20.000 Euros. As reported by the Ministry of Finances, the data imply extended failure to submit declarations, on behalf of debtors, as well as failure to fulfil their obligations, which is why an extended audit will be carried out for residents abroad.
Lastly, as it was announced by the Ministry of Finance, on October 12th 2010, after a cross examination of debtors with debts resulting from inheritance taxes, of over 10.000 Euros each. 581 debtors had been found with due liabilities of 22.3 million Euros, who were not showing up as property owners in the TAXIS property register, or their real estate property was of a lesser value than their debt resulting from inheritance tax.
The Ministry of Finance is calling all taxpayers who have submitted E-9 declarations or have submitted inaccurate tax declarations, withholding property, to proceed to the immediate submission of their due declarations and amendments, while fulfilling any pending obligations. In case of non-response, an audit will be performed by priority.
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