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tax evasion

Finance Ministry Plans to Crack Down on Greek Businesses Slipping Through Tax Borders

Tax borders are about to become less easy to slip through for Greeks who become residents of countries with lower tax rates than Greece in order to save themselves some money. According to sources, the Finance Ministry has proposed a...

IMF Report: Greek Debt Unsustainable, Reforms and Tax Cuts Needed

The Greek debt is unsustainable in the long-term and further fiscal measures are needed, despite progress and sacrifices made, the International Monetary Fund said on Monday. According to the statement issued after the IMF board meeting, Greece needs to make...

Economic Prosecutor Launches Full Audit of Novartis Over Possible Tax Evasion

Economic prosecutor Panagiotis Athanasiou requested on Tuesday a full audit into the economic and tax reports of Swiss drug maker Novartis’ offices in Greece, as well of a number of senior executives, to investigate possible tax evasion and money...

Greek Tax Office Not Ready to Implement Program for Electronic Payment Receipts

Greek tax authorities and the finance ministry are not ready yet to implement the program that would register consumer payments with debit and credit cards. According to the finance ministry, as of January 1, 2017 goods and services purchased with...

Courts Asked to Clarify Ruling On Foreign Deposits That Could Cost the State €1 Billion

The Administrative Appeals Court has recently made a ruling that could end up costing the Greek state some €1 billion by ruling in favor of a plaintiff appealing fines for depositing unclaimed income in banks abroad, sources report. The General Secretariat...

Newspaper Publisher Stavros Psycharis to Face Criminal Charges of Tax Evasion, Money-Laundering

A first-instance court public prosecutor on Wednesday pressed criminal charges against newspaper publisher Stavros Psycharis for tax evasion and legalizing income from illegal activity, to the amount of 45 million euros. The charges against Psycharis are based on the findings...

Survey Reveals Greek Businesses Set-up Ghost Companies in Bulgaria

The University of Bristol has conducted a survey which shows that a large percent of the Greek companies in Bulgaria are actually nothing more that ghost companies created to evade taxes. The survey showed that of the 14,000 Greek-owned companies...

Government Drafts Bill to Interconnect Tills Real-Time Data to Fin Min's Taxisnet System

The Greek government has drafted a bill on initiating the interconnection of tills and tax mechanisms with the Finance Ministry's online Taxisnet system in efforts to curb tax evasion and keep better tabs on the economy. The new bill is set to go...

Greek Banks Propose Tax on Cash Withdrawals to Curb Tax Evasion

Greek banks have proposed taxation of cash withdrawals so that Greeks make more electronic transactions as a measure to curb tax evasion. The proposal is sent to the ministry of finance for further review, the basic idea being that it...

Tax Evasion in Greece Reaches €16 Bln Annually

Tax evasion in Greece is estimated to be around 16 billion euros each year, according to a study by EY (formerly Ernst & Young) carried out on behalf of diaNEOsis research organization. According to the EY analysis, loss of revenue...