The first batch of data concerning Greek taxpayers with deposits and financial assets abroad is in the hands of the Independent Authority for Public Revenue. The details were sent by fellow European Union states in the context of an automatic exchange of information.
The information is being forwarded to the tax inspection mechanism to establish whether the assets (properties or bank accounts) identified abroad have been declared.
At the same time, the country’s banks are in the process of submitting to the IAPR their account data on tax residents in other countries in the context of the automatic data exchange, which also includes the United States. This process, which is conducted under strict confidentiality, has been completed for EU member-states and third countries except for the US, in which case the process is expected to finish on Wednesday.
The IAPR is going to send all of this information to the countries concerned by end-September, meeting its international obligations within deadline. Also by end-September, Greek tax authorities will receive details for all accounts and assets held by Greeks in the Cayman Islands, Singapore, Switzerland, Monaco, Panama, Hong Kong and Lebanon.