\n<\/p>\n
The Finance Ministry and the Independent Authority for Public Revenue (AADE) are rolling out two new oversight mechanisms in a bid to intensify the crackdown on tax evasion, smuggling, and noncompliance by wealthy taxpayers.<\/p>\n
As part of Greece\u2019s drive to modernize its tax oversight, AI-powered systems will make it easier to audit high-risk tax filings and wealth transfers, including transactions involving large estates, properties, or unreported offshore assets.<\/p>\n
The introduction of digital tools, artificial intelligence, and large-scale data matching will allow authorities to more efficiently target businesses and individuals involved in illegal financial activities.<\/p>\n
In 2025, Greece aims to boost its tax revenue by an additional \u20ac500 million through these expanded mechanisms, which would raise the total amount garnered from anti-tax evasion efforts to \u20ac2.3 billion.<\/p>\n
Among the critical changes are updates to Greece\u2019s VAT system. As of January 1, VAT declarations can no longer be amended, effectively locking in all data. Businesses and professionals who previously had the opportunity to rectify inconsistencies in their submissions will now find that their electronic records on the digital myDATA platform automatically reflect VAT returns, eliminating discrepancies between reported income and expenses.\u00a0<\/p>\n
This move is intended to close gaps in the system and reduce fraudulent claims.<\/p>\n
Central to these efforts is the newly established Center for Large Taxpayers\u2019 Audits (KEMEF), set to launch on February 17.<\/p>\n
KEMEF combines the operations of the previously existing Center for High-Net-Worth Taxpayers (KEFOMEP) and the Center for Large Enterprises (KEMEEP), streamlining operations and focusing on the wealthiest individuals and businesses generating over \u20ac10 million in annual revenue.<\/p>\n
KEMEF will operate nationwide and aims to monitor large enterprises, high-net-worth individuals, and financial institutions, identifying and addressing potential instances of tax avoidance and fraud.\u00a0<\/p>\n
It will investigate discrepancies in income declarations, wealth holdings, and business transactions and ensure compliance with both domestic and international tax laws.\u00a0<\/p>\n
The inclusion of advanced technological monitoring allows the center to detect anomalies more swiftly, supporting timely tax enforcement.\u00a0<\/p>\n<\/p><\/div>\n