The Strategist

Greeks Will Have to Declare About Hidden Money

12/02/2015 - 15:12

Once the Greek authorities ignored their citizens’ opinion. Now, they are forced to seek money wherever possible, even asking for help ordinary people. Athens is now aimed not only on deposits but also for cash of the Greeks.

Joanna via wikimedia
Joanna via wikimedia
Earlier, the Greek magazine Enikonomia reported that Greek taxpayers will have to report about all their available cash savings worth more than 15 thousand euro, including jewelry and precious stones cost more than 30 thousand euro. The law will enter into force starting from 2016.

At first, it seemed like it couldn’t be true, since it is the first step towards a full-scale confiscation of assets. Sooner or later, all insolvent government take this measures as they cannot find money to compensate their mistakes in the past.

Yet, this is not a joke.

According to “Keep Talking Greece”, the Greeks will really have to report about their savings, including jewelry, to the system Taxisnet. They will also have to inform government about lease of deposit boxes, specifying name of the bank and branch, even when it’s an overseas organization.

This decision was taken by the Ministry of Justice and Ministry of Finance.

The form, which will operate from January 1, 2016, have already been published

It should be noted that these amounts are applied cumulatively on each household, i.e. spouses and minor children.

Data from the income statements will be moved to the new declarations automatically.

In total, the new form is composed of 56 pages. The Ministry insists that the innovation is made "in the context of support and development of the economy."

By itself, such a solution is, of course, is not surprising, yet still scary. Athens creates a huge scope for manipulation, and the "tax consultant" profession is going to become very profitable.

How do you determine how much jewelry, given as a gift? Or, in another case, if it costed 10 th. euro 10 years ago, how much it does now? Nobody knows the answers.

What would happen if people do not report about their assets? Will tax authorities break into the house and gut mattresses? It resembles a very silly and unfunny joke.

Hardly anyone of voters thought that this could be possible when voted for SYRIZA. It is clear that officials will shift the blame to the creditors, yet unlikely it will provide them with support in the next election.