Statute of limitations for 2011 cases

Statute of limitations for 2011 cases

Lists of Greeks with large deposits abroad and the so-called Lagarde List will be put into the archive for the years up to 2011 at the end of this month, according to a circular sent by the tax administration to the monitoring mechanism, following a decision by the Council of State.

The country’s top constitutional court has deemed that data on taxpayers’ deposits in local banks do not constitute a new piece of information, so those cases reach their statute of limitations after just five years, instead of 10.

According to the guidelines issued by the head of the Independent Authority for Public Revenue, the data from Greek as well as foreign banks will not be taken into account in cases where money was sent from Greek lenders abroad. Even the sums that were forwarded from abroad to a local bank will not be taken into account, as in both cases the funds have been through domestic lenders and were therefore accessible to the monitoring mechanism (thereby not constituting new information), resulting in cases of the financial years up to 2011 being covered by the statute of limitations.

On the contrary, new information from foreign authorities, such as financial products and other securities, will be used unless being previously known.