Tax evasion

The United States and Turkey have agreed to conduct a joint effort to cut the funds financing the Islamic State of Iraq and the Levant (ISIL), while G-20 member states have also committed to further cooperation against terror financing.

By Prokopis Hatzinikolaou

The government is planning stiff penalties for tax dodgers, which could even include the confiscation of assets in Greece and abroad that have not been declared to authorities.

The Greek Radical Left Coalition (SYRIZA) government has chartered a series of 25 tax measures against corruption and tax evasion. These measures seek to find justice and reparation for a series of scandals that have remained unresolved since 2000. The party has also committed to confiscate property that has not been registered in Greece and abroad.

The head of a new ministry created by the government to crack down on corruption is preparing a barrage of inspections on wealthy Greeks who are unable to justify the source of their income, Kathimerini understands.

A plan by the government to pay non-professionals, including students and tourists, an hourly fee to work as undercover tax agents in order to boost a crackdown on evasion prompted reactions from the political opposition and from Greek tax inspectors over the weekend.

BELGRADE - The management board of the Association of Serbian Banks (UBS) discussed on Friday the situation in the Serbian banking sector, with particular focus on the effects of the rise of the Swiss franc.

Romania will hold its first fiscal receipts lottery on April 13, the second day of Easter, in a move to encourage people to demand fiscal receipts when buying goods or services, which will suppress sales tax evasion.

By Tasos Telloglou

The agreement between Greece and the United States Internal Revenue Service, providing for the mutual exchange of data regarding bank deposits, is in its final stretch.

The state budget for 2015 will include up to BGN 1 B more in revenues compared to the previous year, Prime Minister Boyko Borisov has told participants in a meeting between government officials and business representatives.

The former general secretary for military procurements Yiannis Sbokos, who is serving time in jail after being convicted of money laundering, is being blackmailed by a fellow felon, according to a case file prepared by the police.