BUSINESS

Prison terms of at least two years for tax dodgers

SOTIRIS NIKAS

TAGS: Taxation

The harsher penalties for tax dodgers provided by a law passed last October are set to come into force, having received the green light in a circular issued by the general secretary for public revenue, Giorgos Pitsilis. These penalties include imprisonment in cases of large tax evasion, as the state mechanism is making an effort to combat the illegal nonpayment of taxes.

According to the circular, taxpayers who have hidden earnings or assets corresponding to direct taxes of more than 100,000 euros in total or indirect taxes of 50,000 euros face a prison term of at least two years. Taxpayers found to have evaded payments of more than 150,000 euros will face longer prison terms.

In cases of serious tax evasion, besides the heavy fines and penalties, the state will also demand punitive damages, starting from one tenth of the amount evaded.

The issue or acceptance of fake tax details will be punished with a three-month prison term, regardless of whether they involved tax evasion.
 

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