Greece Needs 30 Years to Audit All Tax Evaders

June 1, 2015 Taxation in Greece

ROME – Greek tax authorities do not have the capabilities do audit and investigate the sheer number of taxpayers potentially evading taxes.

Late last week the Financial Prosecutor of Greece Panayiotis Athanasiou claimed that it would take 30 years for the tax authorities of Greece to investigate and audit the all of the country’s suspected tax evaders.

Currently there is 1.38 million suspects for tax evasion in the country.

A significant portion of the suspects were named in various information releases over the last several years.

Panayiotis Athanasiou said currently tax authorities have investigated 478 of the individuals named in the infamous Lagarde List which names 2 062 taxpayers.

Further, of the 54 246 individuals who sent funds out of Greece between 2009 and 2012 only 588 have been audited, while out of all the names listed on the well-known Luxembourg list only 35 have been investigated.

The Prosecutor’s words come following the release of his report on the inherent weaknesses of the national tax authorities in identifying tax evaders and a lack of adequate mechanisms for conducting tax audits.

Photo By: Emilian Robert Vicol