Informal economy

Strike against tax evasion

The planning of National Economy and Finance Minister Kostis Hatzidakis includes a new framework for the taxation of the self-employed. The new finance minister has challenged himself to make his own mark in the fight against tax evasion, as he did in his previous posts tackling pensions, Public Power Corporation and Olympic Airways.

More taxes being paid on time

Rough estimates of tax evasion put it at between €8-10 billion. But recent data show that tax compliance is increasing, which accounts for higher than expected revenue in the first seven months of the year.

Data also show that compliance is higher among businesses than among individuals.

Declaring war on tax evasion

Officials are using warlike language when talking about their new efforts to fight tax evasion.

"We are adding another weapon to our arsenal, so we can achieve even more immediate results," Giorgos Pitsilis, head of the Independent Public Revenue Authority (AADE), said Wednesday when talking about the new capabilities of the authority's operations center.

Chasing tax evasion on the Greek islands

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.

Central banker: Tax evasion exceeds 60 billion euros annually

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

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.