Hard tasks lie ahead for tax monitoring

With the memorandum it agreed with its official creditors, the government has committed to collecting about 2 billion euros in overdue debts to the state by the end of 2012 and to conducting 10,000 inspections relating to the nonpayment of value-added tax and 1,300 checks on well-off taxpayers.

At the same time, Finance Minister Evangelos Venizelos will have to update his peers in the eurozone on a monthly basis regarding the checks that must be conducted. The ministry has also committed to conceding powers to the tax administration that include the monitoring of enterprises and human resources. It is also obliged to appoint an independent general secretary for tax and customs affairs.

This is just a part of a list of measures and deadlines Athens must heed, while having to submit detailed accounts of the checks made and taxes collected since 2010.