Finance Ministry Activates System Able to Cross-Check Bank Deposits against Declared Income
Friday, 31 March 2017
Greece's finance ministry on Thursday announced the activation of a new automated electronic system that is able to cross-check bank account deposits against the income declared by tax-payers, enabling the ministry to trace discrepancies and any undeclared income in the space of just one week. The new system is expected to significantly strengthen the finance ministry's arsenal for fighting tax evasion.
Presenting the new system during a press conference, Finance Minister Euclid Tsakalotos described it as the "stick" that will signal to tax evaders that the ministry now has the means to locate them. It will initially be used to investigate some 1.27 million tax payers included in the various list of depositors the finance ministry has in its possession, with priority based on a specific set of risk analysis criteria.