Greek tax authority enhances efforts against tax evasion with new digital app
Greece’s Independent Authority for Public Revenue, known as AADE, is gearing up to intensify its efforts against tax evasion this summer with the introduction of a new digital tool called “ELEGXOSLive.” The aim is to enhance tax compliance in Greek islands and other tourist areas.
The digital app will provide real-time access to the financial profiles and archived information of the businesses undergoing inspection. It will also enable searches and cross-checks of financial data.
The finance ministry and AADE believe that the tourism industry has the potential to significantly increase tax revenues by revealing undeclared income. They note that a portion of the previous year’s rise in VAT revenue was a result of extensive inspections.
The objective is to ensure that the new government, formed after the June 25 elections, will have enhanced revenues that can accelerate the achievement of fiscal targets and provide more room for implementing social policies. This comes at a time when record-breaking tourism revenues are anticipated.
During the summer, AADE plans to conduct over 30,000 inspections using the new digital app. Inspectors will also have the ability to issue immediate notifications regarding inspection outcomes, fines, or penalties. Depending on the severity of the violation and for repeat offenders, penalties may include temporary business closure for up to 10 days.
Among other capabilities, the app will enable inspections to verify the authenticity of receipts issued by cash registers, ensure companies have transmitted invoice and receipt data to the myDATA platform, cross-reference submitted tax statements, and view the tax history, including past infractions, of the businesses being inspected. [AMNA]
