Taxman online with banks

Millions of bank accounts of taxpayers and companies will soon be targeted by the tax authorities, with the use of the new system which will scan all their movements.

This is the Bank Account Nexus Crosscheck Application (BANCAPP), which automated the process of providing data and information concerning audited natural and legal persons. The tests between the Independent Authority for Public Revenue (AADE), the Hellenic Bank Association and credit institutions have already started and in the near future it will be put into operation. The systemic banks have said they are ready for the activation of the new system, while the smaller banks are expected to request an extension.

Through BANCAPP, the data of the file of financial products and analytical financial transactions, the movements of bank accounts, payment accounts and other financial products and analytical...