Under the microscope of the new digital tool of AADE, Bank Account Nexus CrossCheck Appplication (Bancapp) to detect suspicious bank accounts and undeclared income, there are already 1,000 cases.

More specifically, according to ERT, these are cases of taxpayers who have high deposits but report “crumbs” to the tax office. Specifically while declaring annual incomes below 10,000 euros, they appear to have deposits of or exceed 300,000 euros.

They are the first results of the new advanced digital tool of AADE, which derives data directly from banks in real time, intersects with tax returns and accurately detects divergences between income and deposits.

The penalties for those found with undeclared incomes are “heavy”. Any increase in property derived from illegal or unjustified, or unknown source or cause, is considered a profit from business and is taxed at a rate of 33%.

The Bank Account Nexus Crosscheck Appplication – Bancapp has been operational about a year ago, offering tax auditors to “penetrate” bank accounts, lockers and electronic wallets and receive detailed information and information about controlled.

In particular, once an income and property control order for a taxpayer is issued, a request for lifting bank secrecy is automatically sent without human intervention. In two days, AADE has the relevant answers to the bank accounts and assets of the last five years.

With the new automated system, taxable material is now easy. The information received by the taxpayers are processed and intersected by tax returns to determine whether the amount of movable property and living expenses are justified by the taxpayers’ incomes that are being checked for illegal surcharge.

The removal of the confidentiality, through the new system, requires the knowledge and supplementation of the VAT of the natural or legal person or legal entity for which bank secrecy is removed while all the necessary procedures for the removal of the bank secrecy provided for for the abolition of the abolition.

What is the process

With the issuance of a check order, the request is automatically promoted by the AADE through the electronic interconnection and communication hub in credit institutions and to all persons.

The debtors should respond and send the files within two business days, with the exception of cases where the request occupies a controlled period of more than five years, so the files will be sent within five business days.

Communication of the requests between AADE and the debtors is carried out through the infrastructure of “Tiresias”. The information exchanged through the transmission channels of “Tiresias SA” concerns the details of the controlled.

To ensure the confidentiality of the process, all tax and/or financial data exchanged are encrypted.

Credit and financial institutions, including branches of foreign credit institutions, payment institutions, electronic money institutions, which are active in the Greek territory, with or without physical installation, should be transmitted in the new system, including branches.

Data sending banking and financial institutions relate to:

  • First Demand Deposits and timely
  • Grants
  • Investment accounts with all kinds of portfolios of investment products and securities, such as mutual funds, bonds, shares, bank insurance, derivatives, repos etc.
  • Credit cards
  • Bank boxes
  • Payment accounts
  • Prepaid cards
  • Electronic wallets.