Bank deposits to be tracked against tax evasion

A new electronic system that will track bank deposits 15 years back comes to enforce government’s fight against tax evasion by the wealthy, as Alternate Finance Minister Nadia Valavani told Sunday's Avghi newspaper. Cash registers will be electronically linked to the finance ministry's central information system, while payment by cards will be expanded, she said. Valavani explained that the bank deposit registry would give the authorities the ability to check immediately the real tax-paying ability of an individual. The registry “will facilitate the government's plans for the option of 'stating voluntarily' - without penal offences - funds of tax evasion, not from kickbacks or other criminal activities, that exist or have gone through bank accounts in Greece and abroad”. Doctors and lawyers will also be able to connect to the system.

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