ATHENS – With many of Greece’s rich hiding their money in secret foreign bank accounts, debtors to the state who have money or valuables in Greek banks safe deposit boxes will start seeing confiscations after January 1, 2019 when the law is eased.
Tax inspectors and auditors will be allowed access to the boxes after measures aimed at simplifying the legal procedure for such court-ordered action takes effect, the business newspaper Naftemporiki reported.
Unable to get at tax cheating miscreants abroad nor crack down on tax evasion as promised, the ruling Radical Left SYRIZA-led coalition has been on a hunt for monies where they can be reached, seizing bank accounts of people who owe money to the state.
Officials will be allowed to raid the safe deposit boxes and empty them of cash and all valuables, including precious metals, expensive jewelry and even valuable works of art being hidden.
The government said targets are “strategic defaulters” able to pay their obligations but ducking them and who have considerable assets hidden to prevent their being detected.
The paper said that seizing euros and foreign currency in bank accounts corresponding to individuals with major arrears to the tax bureau and social security funds is proving ineffective.
Confiscation of assets in safe deposit boxes is already allowed but only under strict conditions, requiring a court or prosecutor’s order, which has rarely happened and brought only 1.5 million euros ($1.7 million) so far.
Read more at thenationalherald.com
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