Greek Tax Inspectors Will Raid Safe Deposit Boxes of State Debtors

Martin Everson

Offshore Consultant
Business Angel
Greek Tax Inspectors Will Raid Safe Deposit Boxes of State Debtors - The National Herald

The state wants to know what you hide under your bed....lol :eek:.

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ATHENS – Nothing is safe from the tax man in Greece – unless you hide your money in secret foreign bank accounts – and now inspectors are going to open bank safe deposit boxes of state debtors and raid the contents.

Tax officials will also cross-reference transactions in debit cards and credit cards, which could provide an incentive for people to use cash – which the government didn’t want – to further hide their income.

The ruling Radical Left SYRIZA said it would end tax evasion but figures showed more people were trying avoid paying after Prime Minister Alexis Tsipras imposed an avalanche of tax hikes, including on Value Added Tax (VAT) that applies even to food.

The government has also not widely enforced a requirement for the use of Point-of-Service (POS) electronic terminals so people can make payments by card, with doctors, lawyers, engineers and other professionals and car mechanics and others demanding cash or saying their POS machines don’t work so they can cheat on their taxes.

By the end of the first quarter of 2019 an online asset register will be in partial operation, and will include the entire set of each taxpayer’s declared or identified assets, said Kathimerini.

That means taxpayers who are concealing their incomes, real estate and various other assets of high value will be under greater pressure, as once their hidden possessions are revealed the owners will face very high fines – unless the announcement gives them time to empty their safe deposit boxes and find other ways to hide their money.

Tax officials said they want to create a huge database with all assets possessed by the country’s 8.5 million taxpayers and all enterprises and will contain details of homes, plots of land, farmland, storage rooms, vehicles, boats and aircraft, large cash amounts held in mattresses, bank deposits, gold bars, shares, bonds, treasury bills, holdings in all kinds of corporations, and mutual fund stakes, among others – unless they’re moved or hidden.

When the asset register is fully up and running and technical inspections are being carried out, the tax administration will be able to determine the real taxable income of each taxpayer based on all revenues and expenses, assets and bank deposits.

Tax officials will still need a prosecutor’s order to open safe deposit boxes and also to confiscate what’s inside if people owe money to the state. Authorities have already been seizing money from scores of thousands of bank accounts, except for people who hide their money in tax havens like Switzerland, Australia, the United Kingdom and Luxembourg.

According to a recent law amendment, the monitoring mechanism also has the right to order credit institutions to provide evidence of all banking moves by their clients for the period from 2015 to 2018.

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João Silva

Active Member
Is there any country in world that is not communist/social democracy friendly??? Serious, these people still think that "steal the rich" works?
 

Martin Everson

Offshore Consultant
Business Angel
I keep telling people totalitarianism is coming. The day your country eliminates cash via the backdoor....run!!!

This digital money (e-money) is never yours :(....don't believe me??? Let me know how you can spend your money when your card or account is disabled and the EMI/Bank doesn't answer your calls or emails. Always think too steps ahead thu&¤#.
 

João Silva

Active Member
It sounds like something you copy/pasted from a science fiction book. Anyway, the entire world is going crazy about Black Money these years, so they are doing it the stone age way in Greece :D
Black money like don´t pay tax, sell something forbidden (like food and water in Venezuela) bribe someone from goverment or pratonage some party.

The problem is clearly another (goverment)
 

João Silva

Active Member
I keep telling people totalitarianism is coming. The day your country eliminates cash via the backdoor....run!!!

This digital money (e-money) is never yours :(....don't believe me??? Let me know how you can spend your money when your card or account is disabled and the EMI/Bank doesn't answer your calls or emails. Always think too steps ahead thu&¤#.
Can I ask you what do you think about The Direct Registration System (DRS)?

Learn About the Direct Registration System (DRS) for Stocks
 

Martin Everson

Offshore Consultant
Business Angel
Can I ask you what do you think about The Direct Registration System (DRS)?

Learn About the Direct Registration System (DRS) for Stocks
I have a bond portfolio that I will hold to maturity. So I use computershare already to hold UK GILTS in my name . I also use Euroclear Bank via sponsorship to hold the bulk of my Eurobonds in my name. The rest of my bonds I split between multiple banks as I from time to time use them as collateral for short term loans.

I'm well ahead of the curve on direct registration and its a good way to go for long term holdings thu&¤#. Don't waste your time if you planning on selling any of your portfolio from time to time.
 

João Silva

Active Member
Well I am more a dividend guy. I invested in brazilian´s bond when our basic interest rate was 14,25% per year. Now with 6,25% per year it´s very disappoint.

Do you read the Malta Independent? What more online newspaper can you recomend?
 

Martin Everson

Offshore Consultant
Business Angel
Do you read the Malta Independent? What more online newspaper can you recomend?
I don't read it but know of it. I tend to read just daily newsletter from the banks I bank with. So whatever the bank tells me to do I do the opposite and that's how I make money. So if my bankers tells me to buy more gold then I sell it thu&¤#.
 

darkster

Trusted Member
Business Angel
Mentor Group
Commercial Service
I don't read it but know of it. I tend to read just daily newsletter from the banks I bank with. So whatever the bank tells me to do I do the opposite and that's how I make money. So if my bankers tells me to buy more gold then I sell it thu&¤#.
LoL that's how we should do it, never trust a banker they will never tell you thr truth.
 

Cetme308win

Building Trust
Entrepreneur
I keep telling people totalitarianism is coming. The day your country eliminates cash via the backdoor....run!!!

This digital money (e-money) is never yours :(....don't believe me??? Let me know how you can spend your money when your card or account is disabled and the EMI/Bank doesn't answer your calls or emails. Always think too steps ahead thu&¤#.
Gold is the only real money nowadays
 

Martin Everson

Offshore Consultant
Business Angel
Anybody that wants to have sleepless nights just read the EU law - "European Account Preservation Order". Any creditor in EU can get your accounts across entire EU frozen if you owe them money without your knowledge and without having to go through court system in EU countries :(. So not paying parking fines in UK and then leaving and going to another EU country could cause your bank accounts to be frozen across entire EU, or even a tax bill owed eek¤%&.

How can they just freeze all your accounts without telling you? They think people can live on air?

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The new rules on a European account preservation order procedure (EAPO) allow for the blocking of a debtor's bank account. Creditors can freeze the amount owed to them in a debtor's bank account located in the EU, if there is a risk that the enforcement of their claim would be impeded or made more difficult if the order were not to be issued.

This order can be crucial in debt recovery proceedings because it prevents debtors from moving their assets while the enforcement of a judgment is pending.

How does it work?
The EAPO is available to the creditor in cross-border cases, as an alternative to instruments under national law.

The new European order allows creditors to preserve funds in bank accounts under the same conditions in all EU countries. The EAPO would be issued without the debtor's knowledge.

This “surprise effect” is essential for the effectiveness of the order– if the debtor is warned that the creditor wants to freeze their accounts, chances are that the money will have been moved elsewhere by the time the court orders the "freeze".

The creditor can apply for the EAPO prior to obtaining a judgment on the merits of the case or after they have obtained a judgment.


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João Silva

Active Member
Anybody that wants to have sleepless nights just read the EU law - "European Account Preservation Order". Any creditor in EU can get your accounts across entire EU frozen if you owe them money without your knowledge and without having to go through court system in EU countries :(. So not paying parking fines in UK and then leaving and going to another EU country could cause your bank accounts to be frozen across entire EU, or even a tax bill owed eek¤%&.

How can they just freeze all your accounts without telling you? They think people can live on air?
If they just STEAL us like any good criminal organization would be less troublesome. All this game just to pretende that they are legitime is ridiculous.
 
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