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Wealthy Greeks obliged to declare their jewellery too

02 December 2015 / 15:12:48  GRReporter
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As of 2016, Greeks will be obliged to declare to the tax authorities all the gold jewellery and objects, precious stones and cash worth over 15,000 euro, which they are keeping at home or in bank safes. The obligation will apply to all taxpayers, who by law must declare the origin of their personal wealth.

The new measure is provided for in the joint decision of the Ministers of Justice and Finance and will enter into force on 1 January 2016. The decision states that taxpayers shall declare online, in their personal tax profiles, all the items previously mentioned, being obliged to do so even when their financial situation has not changed.

In particular, taxpayers will be obliged to declare available cash, when the amount exceeds 15,000 euro as well as valuables worth over 30,000 euro. The amounts are set per family and include all family members, even minors. The decision also states that in order to facilitate the completion of tax returns, the data from property declarations will be automatically retrieved from the appropriate forms.

So far, the obligation to submit declarations on the overall wealth has applied to deputies, journalists, government functionaries and others. Now it is used as a basis for the creation and implementation of an electronic register of the property status that all taxpayers must declare.

Tags: NewsDeclaration of cashgold jewellery and objectsProperty declaration
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