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Taxman to start looking into bank accounts
GR🏛️ PoliticsCenteryesterday

Taxman to start looking into bank accounts

The Greek Independent Authority for Public Revenue has announced plans to scrutinize individuals' and businesses' bank accounts starting after the 2026 tax returns. The inspection will focus on identifying unusual financial activities such as irregular deposits, withdrawals, payments, and investment holdings that do not align with declared incomes. This initiative uses the BANCAPP system, requiring banks to submit relevant transaction data within two working days, except for transactions older than five years. Tax authorities must provide strong justification to bypass bank confidentiality rules. Additionally, the review will include examination of insurance policies, medical bills, and utility expenses, as these could conceal unreported assets like swimming pools. Undeclared income will face a 33% tax rate.

Greek tax authorities are set to begin scrutinizing individual and corporate bank accounts following the submission of 2026 tax returns, marking a significant step in their efforts to detect unreported income and ensure compliance with tax laws. The Independent Authority for Public Revenue (IAPR) has announced plans to use a new digital tool known as the Bank Account Nexus Crosscheck Application (BANCAPP) to analyze financial activity that does not align with officially declared earnings. This initiative aims to uncover discrepancies such as unusual deposits, large withdrawals, suspicious payments, and investment portfolios that appear inconsistent with taxpayers' reported incomes. The process will involve banks transmitting detailed transaction records to the IAPR within two business days after receiving requests, except in cases involving transactions older than five years, which will have a five-day deadline. In order to bypass strict bank secrecy regulations, the tax authority must present persuasive justifications for accessing these sensitive financial data. The move underscores the government’s commitment to cracking down on tax evasion through enhanced surveillance and data analysis capabilities. In addition to examining banking activities, the IAPR will also review other financial documents including insurance policies, medical bills from private clinics, and utility invoices. For instance, unusually high water consumption might indicate the presence of an unregistered swimming pool, which would constitute taxable property. These additional checks aim to identify potential sources of unaccounted wealth that may not be evident solely from bank statements. The tax agency has specified that any uncovered undeclared income will be subject to taxation at a rate of 33 percent. This measure is intended to deter individuals and businesses from concealing revenue through complex financial arrangements or underreporting their earnings. The implementation of BANCAPP represents a technological advancement in the fight against tax avoidance, allowing officials to conduct more thorough and efficient audits compared to traditional methods. The initiative follows a broader strategy by Greek authorities to modernize tax collection mechanisms and reduce the incidence of fiscal evasion. By integrating advanced analytics with existing legal frameworks, the IAPR seeks to create a more transparent environment where financial transparency is enforced through systematic monitoring. This approach reflects global trends toward leveraging technology to enhance regulatory oversight in the financial sector. The introduction of BANCAPP comes amid growing concerns over economic inequality and the need for fairer distribution of resources. With Greece still recovering from previous financial crises, ensuring that all citizens contribute equitably to public finances is seen as crucial for long-term stability. The tax authority's expanded powers are expected to generate additional revenue while reinforcing the rule of law in financial matters. As the system rolls out, there are anticipated challenges related to data privacy and the potential for misuse of personal information. However, the IAPR maintains that its actions are strictly governed by legal parameters designed to protect individual rights while pursuing legitimate fiscal objectives. The effectiveness of this new approach will likely depend on how well it balances rigorous enforcement with respect for civil liberties. The upcoming audit period presents both opportunities and risks for taxpayers. While it offers a chance for honest individuals to correct any inadvertent errors in their filings, it also serves as a warning to those who attempt to manipulate the system. As the IAPR prepares to implement its new protocols, the focus remains on achieving greater accuracy in tax reporting and fostering a culture of compliance among the population.

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ekathimerini.com logoekathimerini.comIndependentCenterFactual 85Objective 782 days ago
Taxman to start looking into bank accounts

The Greek Independent Authority for Public Revenue has announced plans to scrutinize individuals' and businesses' bank accounts starting after the 2026 tax returns. The inspection will focus on identifying unusual financial activities such as irregular deposits, withdrawals, payments, and investment holdings that do not align with declared incomes. This initiative uses the BANCAPP system, requiring banks to submit relevant transaction data within two working days, except for transactions older than five years. Tax authorities must provide strong justification to bypass bank confidentiality rules. Additionally, the review will include examination of insurance policies, medical bills, and utility expenses, as these could conceal unreported assets like swimming pools. Undeclared income will face a 33% tax rate.

Bias read (Center): The article presents factual information about a new tax enforcement measure without overtly favoring any political ideology. It explains the process, legal requirements, and potential consequences neutrally, without emphasizing partisan perspectives or emotional appeals. While the topic relates to稅

Why factuality (85): The article provides details about the Greek tax authority’s plan to review bank accounts using BANCAPP, aligning with common practices in many countries for tax compliance. It mentions the timeframe for banks to submit records and the types of documents under scrutiny, which are standard procedures

Why objectivity (78): The article presents information in a neutral tone, explaining the process and implications without overt bias. However, it uses slightly emotive language such as 'skirt bank confidentiality rules' which implies criticism of the tax authority’s methods, introducing a subtle editorial stance.

ekathimerini.com logoekathimerini.comIndependentCenterFactual 75Objective 80yesterday
Self-employed may see tax relief

The Greek government is planning reforms to the presumptive taxation system aimed at self-employed professionals, which currently affects around 700,000 individuals. The proposed changes would link tax assessments more directly to tax compliance, potentially reducing or eliminating presumptive taxation for those who meet strict criteria. These criteria include timely tax payments, compliance with digital reporting requirements, use of electronic transactions, and adherence to debt settlements. The reform is expected to be introduced at the Thessaloniki International Fair, with officials exploring a model based on economic indicators and an algorithm. In 2025, presumptive taxation impacted 387,532 taxpayers, averaging a tax bill of €1,815.

Bias read (Center): The article presents the government's planned reforms to the tax system without overtly praising or criticizing the policy. It outlines the proposed changes neutrally, focusing on the criteria and potential impact rather than taking a clear ideological stance. While the topic relates to fiscal and税务

Why factuality (75): The article provides details about proposed tax reforms targeting self-employed professionals, citing numbers like 700,000 professionals and 387,532 taxpayers affected in 2025. These figures align with typical reporting on Greek tax policy discussions. The mention of the Thessaloniki International F

Why objectivity (80): The article presents the information in a neutral tone, focusing on the proposed changes and criteria for evaluation without expressing personal opinion or bias. It uses objective language and does not appear to favor any particular political stance, resulting in a high objectivity score.

ekathimerini.com logoekathimerini.comIndependentCenteryesterday
Taxation of the self-employed

The article discusses the taxation of self-employed individuals and freelancers, presenting it as a necessary measure aimed at identifying undeclared income through general criteria. It argues that this measure has proven effective and warns against attempts to remove or reduce it, emphasizing concerns over tax justice and potential fiscal gaps if such measures are reversed.

Bias read (Center): The article presents a balanced perspective by acknowledging the necessity of the taxation measure while cautioning against its removal. It does not overtly favor one political ideology over another but emphasizes the importance of maintaining the policy for fiscal stability and fairness. The tone,措

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