Asset register by end of March

Taxpayers will have to declare all their deposits, real estate assets, bonds, cars and cash to tax authorities in 2019.

The electronic register of assets, known as the Periousiologio in Greek, will start operating at the end of the first quarter of the year and 8.5 million taxpayers will need to fill in a declaration form listing the entire set of their assets.

If they fail to do so and cross-checks conducted by the authorities reveal discrepancies, taxpayers face fines as high as the value of the assets they tried to conceal. The e-periousiologio online platform will be connected with all the online systems of the Independent Authority for Public Revenue as well as other state entities, even in the cases that data that are not kept online.

The tax administration will then be able to cross-check taxpayers' details without delay, while taxpayers will be able to...