Tax evasion

Tax evasion getting contained

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.

Inspections and fines

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.

Cyprus and US cooperate against money laundering

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.

Assets worth 92 billion liras seized from arrested influencers

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.

Taxman becomes electronic

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.

Mali: Serbia receiving international confirmation it is on right track

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.