Tax evasion

Tax evasion may be ranging between 8 and 10 billion euros per year, according to rough calculations, and half of that could be recovered, Deputy Minister of National Economy and Finance Haris Theocharis told Skai Radio on Thursday.

Dealing with tax evasion has entered the vocabulary of the government's economic policy, at least at the level of statements of intent, after the related discussions during the pre-election period. New Minister of National Economy and Finance Kostis Hatzidakis highlighted it on Tuesday, during the ministry's handover ceremony, saying it is a form of social injustice that must be addressed.

New technologies, as well as citizens, are bringing cases of major tax evasion to the surface.

The combination of complaints from taxpayers, who did not receive receipts for products they bought, and electronic transactions, which are increasing year by year, have helped the audit mechanism to identify large hotbeds of tax evasion and impose stiff fines.

The "self-exclusion" by debtors who are formally entitled to support but refuse it so that the protection of the privacy of their banking transactions will not be lifted is a serious indication that the state is in no position to properly plan any social support policies.

The gaps in the system that allow so much tax evasion to go unchecked, even when it comes to electronic transactions, have been pointed out again and again.

The tax administration (AADE) and the officials preparing to take the reins at the Finance Ministry intend to combat tax evasion by taking additional legislative and administrative measures.

Tax evasion in Greece exceeds 60 billion euros annually, Bank of Greece governor Yannis Stournaras said on Monday in an interview with news website in.gr.

Incomes officially declared in the country totaled 80 billion euros, while consumption totaled 140 billion euros, he said, adding that this consumption was not accompanied by a decline in savings, which in fact continued to rise.

Greece's Independent Authority for Public Revenue, known as AADE, is gearing up to intensify its efforts against tax evasion this summer with the introduction of a new digital tool called "ELEGXOSLive." The aim is to enhance tax compliance in Greek islands and other tourist areas.

The head of Greece's Anti-Money Laundering Authority ordered on Wednesday the freezing of all assets of human rights activist Panayote Dimitras, following an investigation into his activities.

According to the authority's investigation, the funding he received, mainly from the EU, to support human rights causes was used for other purposes than those claimed.

A wide-reaching review of bank accounts, including of the bosses of some of Slovenia's main media outlets, has raised speculation about potential political abuse of the Office for Money Laundering Prevention under the previous government.