The tax office is using data forwarded by dozens of other countries to identify income and assets that have not been declared in Greece.
Bank deposits, dividends, pensions, business profits, as well as transactions through digital payment providers and investments in cryptocurrency are under scrutiny.
This month, the Independent Authority for Public Revenue (AADE) will activate a new round of cross-checking using information it receives from 93 countries, within the framework of international administrative cooperation. The checks concern individuals who have declared Greece as their tax residence and, under the law, are required to declare all income they acquire both in Greece and abroad.
Particular emphasis is placed on interest from deposits in foreign banks, as the amounts that foreign markets yield are significantly higher than the corresponding amounts in Greece. The 2024 data shows that more than 21,000 taxpayers with tax residence in Greece declared interest from deposits abroad, totaling €210 million.
AADE has set a specific timetable for the completion of this year’s cross-checks: By July 31, at least 10% of the data relating to interest on deposits of individuals for the tax year 2020, which expires at year-end, should have been checked. Then, by October 31, the cross-check of at least 50% of the information from foreign tax authorities for income for tax year 2021 must have been completed.
