The Greek Ministry of Finance has finally come to a decision about citizens who hide their income sources from tax authorities. It was announced on Thursday, that the new measures approved by the Ministry includes stricter and more expansive type of checks in order for inspectors to estimate the assets and expenses of all taxpayers and also make it easier to find those who tax evade.
According to the General Secretariat of Revenues, the most important factors that will be taken under account by tax officials during checks are: bank deposits, loans, pleasure boats, real estate properties, investments, cars and of course consumer expenses.
The announcement clearly stated that all individuals whose standard of living is not justified by their income will be the focus of tax inspectors. Furthermore, Greeks with large expenses or who are involved in loss-making companies will also be subjected to the scrutiny of tax authorities. The inspectors will also have to investigate any information that may lead to a case of tax evasion.
Greek taxpayers will be responsible for justifying the source of their income, purchases and assets. Tax evasion and the slow progress of tackling this problem has been one of the main points of discussion during meetings with troika.
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