Tax evasion

The 300,000 citizens who have downloaded the appodixi application, which verifies the veracity of company receipts, are demonstrating their active participation in supporting the tax control system.

Tax audits have made a huge leap in recent years, mostly in terms of their quality and not so much in terms of their number, which is more or less on the same level as previous years

Bureau audits, complex cross-checks and data now obtained from dozens of sources have curbed tax evasion, uncovering undeclared income.

The deployment of new technologies has made Greek authorities more adept at detecting tax evasion. Inspections are more targeted, more extensive, more transparent. 

However, the detection of violations does not automatically lead to the collection of the imposed fine. No algorithm has yet been found that will make the real punishment of tax evasion as effective as the inspections.

Incomes totaling around 1 billion euros were hidden by 1,048 taxpayers and businesses, but were revealed by the audits carried out last year by the Independent Authority for Public Revenue (AADE).

The Independent Authority for Public Revenue (AADE) is establishing a special forces squad for tax and customs audits.

The new large prosecution unit will take over the control of smuggling and tax evasion, with tax and customs officers working directly together, with the assistance of the AADE business chamber.

Within a short period after Nicosia's announcement of closer cooperation with the US on money laundering issues, the Cypriot Council of Ministers approved the signing of a memorandum of cooperation between the Cyprus Police and the FBI. 

The memorandum pertains to providing assistance in investigating cases of possible sanctions violations, money laundering, and corruption.

In an important stride towards global transparency and cooperation in tax matters, Bulgaria has received a laudable rating of Largely Compliant from the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes (GFTEITP).

Following investigations by the Financial Crimes Investigation Board (MASAK), 92 billion Turkish Liras ($2.84 billion) in assets have been seized from social media influencers who were detained over allegations of money laundering and tax evasion, Interior Minister Ali Yerlikaya has said.

Taxpayers will now only communicate with the tax office digitally and via electronic messages, while audits will be completed within a maximum of one year, according to the new tax bill amending the Tax Procedures Code established in 2013.

BELGRADE - Serbian Finance Minister Sinisa Mali said on Monday a conclusion by the Council of Europe money laundering watchdog MONEYVAL that Serbia had made progress on development of an anti-money laundering and terror financing system confirmed the country was on the right track.

The conclusion is included in the latest MONEYVAL report, published earlier in the day.