Tax Evasion tagged posts

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 ...

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Greece Eyes ATM Tax

May 27, 2015 Taxation in Greece

ROME – Using cash may become more costly in Greece, as the government looks at measures aimed at reducing tax evasion in the country.

In a press conference held on May 26th the Minister of Finance of Greece Yanis Varoufakis confirmed that the government is now evaluating the feasibility of several measures aimed at reducing tax evasion, including a new tax on bank withdrawals made at an ATM.

The minister said that by instating a minuscule tax on cash withdrawals may encourage consumers to use credit and debit cards instead of paying with cash, a move which will significantly reduce the incidence of tax avoidance by businesses which conduct business in cash in order to keep profits off their records.

Yanis Varoufakis added that the government was also mulling the possibility of launching ...

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Accountants and Banks Will Be Liable for Tax Evasion

March 20, 2015 Taxation in UK

LONDON – Accountants, lawyers, and banks who facilitate tax evasion will now be liable for the amount of taxes evaded.

On March 19th the Chief Secretary to the Treasury Danny Alexander announced that the government will implement new measures which will make it a criminal offence to provide assistance to entities in evading their tax obligations.

Under the details of the new rules banks, accountants, lawyers, and other professionals may be held liable for failing to prevent tax evasion and for making tax evasion possible.

If found guilty of the new offenses, the organization may be held liable for penalties equivalent to the amount of taxes evaded.

In addition to the penalties, the government will also have powers to “name and shame” offenders.

Further, tax evaders will face ‘strict ...

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German Clamping Down on Tax Evaders

September 25, 2014 Taxation in Germany

tax evasion in GermanyBERLIN – Germany is set to further crack down on tax evaders by restricting access to a voluntary disclosure program while also extending the statute of limitations on tax crime.

On September 24th the Cabinet of Germany approved new legislation lowering the threshold currently applied to the country’s voluntary disclosure program, a move which will make it harder for tax evaders to come clean about the past transgressions without facing any legal consequences.

Currently, tax evaders in Germany may come forward to tax authorities and disclose details of their unpaid liabilities, in exchange for not facing any penalties or additional fines, under the condition that the amount of taxes owing is less than EUR 50 000, with a penalty of only 5 percent on any amount exceeding EUR 50 000.


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Tax Evasion in the UK Reaches GBP 82 Bil

September 23, 2014 Taxation in UK

LONDON – Despite claiming to be fighting tax evasion, the UK government has cut resources to the HMRC, and allowed tax evasion to reach GBP 82 billion per year.

On September 23rd Tax Research UK issued a new report prepared for the Public and Commercial Services Union, showing that the amount of taxes evaded, avoided or owed to tax authorities in the UK topped GBP 119 billion in 2013 alone.

According to the results of the research, the total amount of taxes evaded in the UK over the course of 2013 reached GBP 92 billion, and could rise to as much as GBP 100 billion by the end of 2019, unless the government takes drastic action to address the issue.

The current level of tax evasion in the UK has been maintained over the years since 2008, despite the government’s promises to address the pr...

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