BUSINESS

Authorities seek out undeclared properties

PROKOPIS HATZINIKOLAOU

TAGS: Finance, Property

The inspection mechanism of the Independent Authority for Public Revenue is looking out for properties that have not been declared to the tax authorities, and particularly assets belonging to state debtors.

The aim is to add them to the tax records and have the taxes due paid, and to reduce the huge stock of expired debts that in the first couple of months of this year came to 2.6 billion euros. The inspection mechanism will even seek out the guarantors of the debtors.

These orders have been issued to the tax inspectors just days before the start of online auctions for debts to the state, scheduled for April 27.

The authority has already scrutinized more than 250,000 debtors with arrears of more than 10,000 euros. In this context, inspectors are being asked to probe the records of the National Cadaster for rights such as full ownership, bare ownership and usufruct for properties that taxpayers with debts to the state may have without having declared them on the E9 form of their tax statement.

Once identified, the properties will be seized and mortgaged by the authorities for the state to secure its interest should the assets be auctioned.

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